Bassett Furniture Industries (NASDAQ:BSET) shares cross below the 200-day moving average of $16.77


The share price of Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Rating) crossed below its 200-day moving average during Thursday’s trading. The stock has a 200-day moving average of $16.77 and traded at $15.68. Bassett Furniture Industries last traded at $16.23 with a volume of 89,199 shares being traded.

Separately, StockNews.com began coverage of Bassett Furniture Industries in a report on Thursday, March 31. They set a “buy” rating for the company.

The company’s 50-day simple moving average is $16.44 and its 200-day simple moving average is $16.77. The company has a market capitalization of $156.78 million, a price-earnings ratio of 8.12, a price-earnings-growth ratio of 0.51 and a beta of 1.55.

Bassett Furniture Industries (NASDAQ:BSET – Get Rating) announced its quarterly results on Thursday, March 31. The company reported earnings per share (EPS) of $0.44 for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $117.86 million for the quarter, compared to the consensus estimate of $109.87 million. Bassett Furniture Industries had a net margin of 3.99% and a return on equity of 11.30%. On average, analysts predict that Bassett Furniture Industries, Incorporated will post earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings of shares in Bassett Furniture Industries by 178.2% in Q4. Russell Investments Group Ltd. now owns 101,650 shares of the company worth $1,702,000 after acquiring an additional 65,113 shares during the period. Victory Capital Management Inc. increased its holdings of shares in Bassett Furniture Industries by 23.2% in the first quarter. Victory Capital Management Inc. now owns 300,301 shares of the company worth $4,973,000 after purchasing an additional 56,495 shares during the period. Gamco Investors INC. ET AL increased its holdings in Bassett Furniture Industries shares by 8.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 679,317 shares of the company worth $11,392,000 after purchasing an additional 51,300 shares during the period. Ancora Advisors LLC increased its holdings of Bassett Furniture Industries shares by 26.4% during the first quarter. Ancora Advisors LLC now owns 171,020 shares of the company worth $4,151,000 after purchasing an additional 35,691 shares during the period. Finally, Two Sigma Advisers LP increased its holdings of Bassett Furniture Industries shares by 119.0% during the third quarter. Two Sigma Advisers LP now owns 54,100 shares of the company worth $980,000 after purchasing an additional 29,400 shares during the period. Institutional investors and hedge funds own 61.69% of the company’s shares.

About Bassett Furniture Industries (NASDAQ:BSET)

Bassett Furniture Industries, Incorporated is active in the manufacturing, marketing and retailing of home furniture in the United States and internationally. It operates in three segments: Wholesale, Retail – Owned Stores and Logistics Services. The company is engaged in the design, manufacture, supply, sale and distribution of furniture products for a network of company-owned retail stores and licensee-owned stores and independent furniture retailers; and wood and upholstery operations.

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