Bassett Furniture Industries (NASDAQ:BSET) Share Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Bassett Furniture Industries, Incorporated (NASDAQ:BSET)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.05 and traded as low as $13.86. Bassett Furniture Industries shares last traded at $13.88, with a volume of 10,315 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Bassett Furniture Industries Stock Down 1.9 %

The firm has a market capitalization of $122.16 million, a PE ratio of -12.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.67. The company’s 50-day simple moving average is $14.12 and its 200 day simple moving average is $14.05.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.33. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.42%. On average, sell-side analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.20 dividend. The ex-dividend date is Friday, February 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.76%. Bassett Furniture Industries’s payout ratio is -72.73%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BSET. Barclays PLC grew its stake in shares of Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Bassett Furniture Industries during the 4th quarter valued at approximately $180,000. Finally, Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 4.5% in the fourth quarter. Empowered Funds LLC now owns 26,554 shares of the company’s stock worth $367,000 after buying an additional 1,135 shares during the last quarter. 54.40% of the stock is owned by institutional investors and hedge funds.

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.