Bassett Furniture Industries (NASDAQ:BSET – Get Rating) was upgraded by stock analysts StockNews.com from a “buy” rating to a “strong buy” rating in a research note released Friday.
Separately, TheStreet upgraded Bassett Furniture Industries from a “c+” to a “b” rating in a Friday, September 30 research report.
Bassett Furniture Industries trades up 1.9%
Shares of BSET rose $0.35 on Friday, hitting $19.04. 21,002 shares were traded, against an average volume of 92,245. 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 has a 50-day moving average of $17.55 and a 200-day moving average of $18.30. Bassett Furniture Industries has a fifty-two week low of $13.16 and a fifty-two week high of $24.12.
Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last released quarterly earnings data on Thursday, September 29. The company reported earnings per share of $0.84 for the quarter, beating the consensus estimate of $0.64 by $0.20. The company posted revenue of $118.01 million in the quarter, compared to $119.65 million expected by analysts. Bassett Furniture Industries achieved a return on equity of 13.92% and a net margin of 13.22%.
Insider Activity at Bassett Furniture Industries
In related news, CEO Robert H. Spilman, Jr. purchased 5,000 shares of Bassett Furniture Industries in a trade that took place on Friday, October 7. The shares were purchased at an average cost of $15.58 per share, with a total value of $77,900.00. Following completion of the transaction, the CEO now owns 258,331 shares of the company, valued at approximately $4,024,796.98. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Insiders hold 7.20% of the shares of the company.
Bassett Furniture Industries Institutional Trade
Hedge funds have recently changed their positions in the business. Victory Capital Management Inc. raised its position in shares of Bassett Furniture Industries by 23.2% in the first quarter. Victory Capital Management Inc. now owns 300,301 shares of the company valued at $4,973,000 after purchasing an additional 56,495 shares in the last quarter. Ritholtz Wealth Management bought a new stock position in Bassett Furniture Industries during the second quarter worth approximately $264,000. 1620 Investment Advisors Inc. increased its stake in shares of Bassett Furniture Industries by 8.3% during the second quarter. 1620 Investment Advisors Inc. now owns 12,044 shares of the company worth $218,000 after purchasing an additional 920 shares during the period. Janney Montgomery Scott LLC purchased a new stock position in Bassett Furniture Industries during the third quarter for a value of approximately $413,000. Finally, Trexquant Investment LP bought a new position in shares of Bassett Furniture Industries during the second quarter worth approximately $426,000. 58.27% of the shares are held by institutional investors and hedge funds.
About Bassett Furniture Industries
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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.
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