Bassett Furniture Industries (NASDAQ:BSET) cut to “buy” on


Bassett Furniture Industries (NASDAQ:BSET – Get Rating) was downgraded by stock analysts from a “strong buy” rating to a “buy” rating in a report released Wednesday.

Separately, TheStreet upgraded shares of Bassett Furniture Industries from a “c+” rating to a “b” rating in a Friday, September 30 research report.

Bassett Furniture Industries stock performance

BSET lost $0.09 in Wednesday’s trading, hitting $19.04. The stock recorded a trading volume of 23,852 shares, compared to an average volume of 89,927. The company has a market capitalization of $174.33 million, a P/E ratio of 2.78 and a beta of 1. .54. The company’s 50-day moving average price is $17.59 and its 200-day moving average price is $18.43. Bassett Furniture Industries has a 12-month low of $13.16 and a 12-month high of $24.12.

Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last released its quarterly results on Thursday, September 29. The company reported earnings per share of $0.84 for the quarter, beating analyst consensus estimates of $0.64 by $0.20. Bassett Furniture Industries achieved a net margin of 13.22% and a return on equity of 13.92%. The company posted revenue of $118.01 million for the quarter, versus $119.65 million expected by analysts.

Insider buying and selling

Separately, CEO Robert H. Spilman, Jr. bought 5,000 shares of the company in a trade on Friday, October 7. The shares were purchased at an average cost of $15.58 per share, for a total transaction of $77,900.00. Following the completion of the purchase, the CEO now owns 258,331 shares of the company, valued at approximately $4,024,796.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 7.20% of the shares are currently held by insiders of the company.

Institutional investors weigh in on Bassett Furniture Industries

A number of hedge funds have recently increased or reduced their stakes in BSET. Venture Visionary Partners LLC acquired a new stock position in Bassett Furniture Industries during the second quarter worth $54,000. Gladius Capital Management LP acquired a new position in shares of Bassett Furniture Industries during the second quarter worth $61,000. Royal Bank of Canada increased its holdings of Bassett Furniture Industries shares by 6.7% in the third quarter. Royal Bank of Canada now owns 9,607 shares of the company valued at $150,000 after purchasing an additional 607 shares during the period. Stokes Family Office LLC acquired a new stock position in Bassett Furniture Industries during the third quarter worth $162,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Bassett Furniture Industries during the second quarter at a value of $191,000. 58.27% of the shares are currently held by institutional investors.

About Bassett Furniture Industries

(Get a rating)

Bassett Furniture Industries, Incorporated is engaged in the manufacturing, marketing and retailing of home furnishings in the United States and abroad. It operates through three segments: wholesale, company-owned retail stores and logistics services. The Company is engaged in the design, manufacture, supply, sale and distribution of home furnishings products to a network of corporate-owned retail stores and licensee-owned stores. license, as well as to independent furniture retailers; and wood and upholstery operations.

Featured articles

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider Bassett Furniture Industries, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Bassett Furniture Industries was not on the list.

While Bassett Furniture Industries currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here

Source link