Bassett Furniture Industries (NASDAQ:BSET) Issues Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Bassett Furniture Industries (NASDAQ:BSET) announced its earnings results on Wednesday. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.18), Yahoo Finance reports. Bassett Furniture Industries had a negative net margin of 5.00% and a negative return on equity of 3.40%. The business had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. During the same period in the previous year, the firm earned ($0.30) EPS.

Bassett Furniture Industries Price Performance

Bassett Furniture Industries stock opened at $13.95 on Friday. The company’s 50-day moving average price is $13.70 and its two-hundred day moving average price is $13.89. Bassett Furniture Industries has a 52 week low of $12.10 and a 52 week high of $17.89.

Insider Activity at Bassett Furniture Industries

In other news, Director John R. Belk bought 3,847 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $12.70 per share, with a total value of $48,856.90. Following the completion of the purchase, the director now directly owns 41,047 shares of the company’s stock, valued at $521,296.90. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 5,324 shares of company stock worth $67,651 over the last quarter. 7.10% of the stock is currently owned by company insiders.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.