Bassett Furniture Industries (BSET) Sets New 1-Year Low at $19.90

Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) reached a new 52-week low on Monday . The company traded as low as $19.90 and last traded at $20.20, with a volume of 1600 shares. The stock had previously closed at $20.70.

BSET has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday, August 31st. BidaskClub cut shares of Bassett Furniture Industries from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 5th. Three analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.00.

The company has a market cap of $218.48 million, a P/E ratio of 13.07 and a beta of 0.78.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Thursday, June 28th. The company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $116.00 million for the quarter, compared to analysts’ expectations of $112.86 million. Bassett Furniture Industries had a net margin of 2.82% and a return on equity of 7.93%. During the same quarter last year, the company earned $0.54 EPS. research analysts forecast that Bassett Furniture Industries Inc. will post 1.33 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in BSET. Gamco Investors INC. ET AL increased its stake in Bassett Furniture Industries by 15.6% during the 2nd quarter. Gamco Investors INC. ET AL now owns 822,709 shares of the company’s stock valued at $22,666,000 after buying an additional 111,223 shares during the period. Renaissance Technologies LLC increased its stake in Bassett Furniture Industries by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 719,999 shares of the company’s stock valued at $19,836,000 after buying an additional 105,599 shares during the period. Gabelli Funds LLC increased its stake in Bassett Furniture Industries by 17.8% during the 2nd quarter. Gabelli Funds LLC now owns 265,500 shares of the company’s stock valued at $7,315,000 after buying an additional 40,103 shares during the period. Millennium Management LLC increased its stake in Bassett Furniture Industries by 87.1% during the 2nd quarter. Millennium Management LLC now owns 77,851 shares of the company’s stock valued at $2,145,000 after buying an additional 36,240 shares during the period. Finally, Systematic Financial Management LP acquired a new position in Bassett Furniture Industries during the 1st quarter valued at about $1,019,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Bassett Furniture Industries Company Profile (NASDAQ:BSET)

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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