Bassett Furniture Industries (NASDAQ:BSET) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.02 and traded as low as $13.66. Bassett Furniture Industries shares last traded at $13.86, with a volume of 9,793 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Friday, December 20th.

Bassett Furniture Industries Stock Up 0.6 %

The firm has a market capitalization of $121.98 million, a PE ratio of -7.11, a PEG ratio of 1.07 and a beta of 1.69. The firm’s fifty day simple moving average is $14.52 and its 200-day simple moving average is $14.02.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The company had revenue of $75.62 million for the quarter, compared to analysts’ expectations of $78.63 million. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.47%. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. As a group, analysts predict that Bassett Furniture Industries, Incorporated will post -0.77 earnings per share for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is -41.03%.

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds have recently modified their holdings of the stock. Barclays PLC increased its position in Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after purchasing an additional 3,459 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after buying an additional 1,206 shares in the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after buying an additional 14,183 shares in the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.