Bassett Furniture Industries (NASDAQ:BSET) Cut to “Hold” at StockNews.com

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

Bassett Furniture Industries Price Performance

Shares of Bassett Furniture Industries stock opened at $14.00 on Friday. The stock has a market capitalization of $123.21 million, a price-to-earnings ratio of -7.18, a PEG ratio of 1.07 and a beta of 1.69. The firm’s fifty day simple moving average is $14.54 and its 200-day simple moving average is $14.03. Bassett Furniture Industries has a 12 month low of $12.10 and a 12 month high of $16.85.

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

Hedge Funds Weigh In On Bassett Furniture Industries

Several institutional investors have recently bought and sold shares of BSET. Empowered Funds LLC lifted 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 acquiring an additional 1,206 shares during the period. Barclays PLC lifted 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 valued at $146,000 after purchasing an additional 3,459 shares during the period. Finally, Inspire Advisors LLC boosted its holdings in Bassett Furniture Industries by 119.5% in the 2nd quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after purchasing an additional 14,183 shares in the last quarter. 54.40% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries

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.