Bassett Furniture Industries Inc. (NASDAQ:BSET) announced its earnings results on Thursday. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. The business had revenue of $104.70 million for the quarter. Bassett Furniture Industries had a return on equity of 9.46% and a net margin of 3.80%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS.
Shares of Bassett Furniture Industries (NASDAQ:BSET) opened at 23.25 on Monday. Bassett Furniture Industries has a one year low of $22.42 and a one year high of $33.68. The stock’s 50 day moving average is $24.85 and its 200-day moving average is $27.56. The stock has a market capitalization of $253.52 million, a P/E ratio of 15.39 and a beta of 1.02.
Separately, Zacks Investment Research cut shares of Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th.
Institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $218,000. Deere & Co. purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $237,000. TFS Capital LLC raised its position in Bassett Furniture Industries by 47.4% in the second quarter. TFS Capital LLC now owns 11,984 shares of the company’s stock valued at $287,000 after buying an additional 3,853 shares in the last quarter. KCG Holdings Inc. purchased a new position in Bassett Furniture Industries during the second quarter valued at approximately $306,000. Finally, Allianz Asset Management AG raised its position in Bassett Furniture Industries by 3.0% in the second quarter. Allianz Asset Management AG now owns 14,887 shares of the company’s stock valued at $356,000 after buying an additional 438 shares in the last quarter. Institutional investors and hedge funds own 71.64% of the company’s stock.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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