Bassett Furniture Industries, Incorporated (NASDAQ:BSET) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

A number of other equities analysts also recently issued reports on BSET. Stifel Nicolaus reaffirmed a “hold” rating and set a $39.00 price objective (up from $36.00) on shares of Bassett Furniture Industries, in a report on Saturday. Zacks Investment Research downgraded shares of Bassett Furniture Industries, from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, BidaskClub downgraded shares of Bassett Furniture Industries, from a “hold” rating to a “sell” rating in a report on Saturday, August 26th.

Bassett Furniture Industries, (NASDAQ BSET) traded up 3.45% on Monday, hitting $39.00. The company’s stock had a trading volume of 44,033 shares. Bassett Furniture Industries, has a 12 month low of $22.55 and a 12 month high of $41.30. The stock has a market cap of $418.67 million, a PE ratio of 22.81 and a beta of 1.12. The firm has a 50 day moving average of $36.28 and a 200-day moving average of $32.92.

Bassett Furniture Industries, (NASDAQ:BSET) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Bassett Furniture Industries, had a return on equity of 9.17% and a net margin of 4.09%. The business had revenue of $114.30 million during the quarter, compared to analyst estimates of $110.65 million. During the same period in the prior year, the firm posted $0.38 EPS. Bassett Furniture Industries,’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts expect that Bassett Furniture Industries, will post $1.66 earnings per share for the current fiscal year.

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In other news, CEO Robert H. Spilman, Jr. sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $40.16, for a total transaction of $200,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John E. Bassett III sold 3,130 shares of Bassett Furniture Industries, stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $40.00, for a total value of $125,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,135 shares of company stock worth $908,659. Insiders own 6.40% of the company’s stock.

Several large investors have recently modified their holdings of BSET. Dynamic Technology Lab Private Ltd bought a new position in Bassett Furniture Industries, during the second quarter valued at about $206,000. Raymond James Financial Services Advisors Inc. increased its holdings in Bassett Furniture Industries, by 25.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,849 shares of the company’s stock worth $715,000 after buying an additional 3,855 shares during the last quarter. State Street Corp increased its holdings in Bassett Furniture Industries, by 7.3% during the second quarter. State Street Corp now owns 178,240 shares of the company’s stock worth $6,766,000 after buying an additional 12,140 shares during the last quarter. Voya Investment Management LLC purchased a new stake in Bassett Furniture Industries, during the second quarter worth about $272,000. Finally, Citadel Advisors LLC purchased a new stake in Bassett Furniture Industries, during the second quarter worth about $301,000. 71.92% of the stock is currently owned by institutional investors.

Bassett Furniture Industries, Company Profile

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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