Bassett Furniture Industries (NASDAQ:BSET) Stock Rating Lowered by StockNews.com

Bassett Furniture Industries (NASDAQ:BSET) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Bassett Furniture Industries Trading Up 1.8 %

Shares of BSET stock opened at $15.00 on Tuesday. Bassett Furniture Industries has a 12 month low of $12.10 and a 12 month high of $17.89. The company has a market cap of $132 million, a P/E ratio of -7.69 and a beta of 1.68. The firm has a fifty day moving average price of $14.16 and a 200 day moving average price of $13.88.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). The business had revenue of $75.62 million during 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 previous year, the company posted ($0.30) EPS. On average, equities analysts forecast that Bassett Furniture Industries will post -0.77 EPS for the current year.

Insider Activity

In other news, Director John R. Belk acquired 3,847 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $12.70 per share, with a total value of $48,856.90. Following the completion of the acquisition, the director now owns 41,047 shares in the company, valued at $521,296.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 5,324 shares of company stock worth $67,651. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bassett Furniture Industries stock. Inspire Advisors LLC boosted its stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,872 shares of the company’s stock after acquiring an additional 880 shares during the period. Inspire Advisors LLC owned 0.13% of Bassett Furniture Industries worth $175,000 as of its most recent SEC filing. 54.40% of the stock is owned by institutional investors.

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.