Advisory Services Network LLC Decreases Stock Position in Beyond, Inc. (NYSE:BYON)

Advisory Services Network LLC cut its holdings in Beyond, Inc. (NYSE:BYON - Free Report) by 77.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,290 shares of the company's stock after selling 78,200 shares during the quarter. Advisory Services Network LLC owned approximately 0.05% of Beyond worth $115,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BYON. State Street Corp boosted its holdings in Beyond by 0.9% in the third quarter. State Street Corp now owns 1,016,563 shares of the company's stock worth $10,247,000 after acquiring an additional 8,580 shares in the last quarter. Invesco Ltd. boosted its stake in Beyond by 26.4% in the 4th quarter. Invesco Ltd. now owns 796,445 shares of the company's stock worth $3,926,000 after purchasing an additional 166,411 shares in the last quarter. Federated Hermes Inc. grew its position in Beyond by 390.0% during the 4th quarter. Federated Hermes Inc. now owns 728,158 shares of the company's stock valued at $3,590,000 after purchasing an additional 579,565 shares during the last quarter. JPMorgan Chase & Co. grew its position in Beyond by 63.2% during the 4th quarter. JPMorgan Chase & Co. now owns 636,141 shares of the company's stock valued at $3,136,000 after purchasing an additional 246,447 shares during the last quarter. Finally, Refined Wealth Management increased its stake in Beyond by 14.8% during the 4th quarter. Refined Wealth Management now owns 401,095 shares of the company's stock valued at $1,977,000 after purchasing an additional 51,763 shares in the last quarter. 76.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on BYON shares. Needham & Company LLC downgraded Beyond from a "buy" rating to a "hold" rating and set a $9.00 target price on the stock. in a research note on Wednesday, March 5th. Barclays decreased their target price on Beyond from $8.00 to $7.00 and set an "equal weight" rating for the company in a research report on Thursday, January 9th. Maxim Group dropped their price target on shares of Beyond from $26.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group decreased their price objective on shares of Beyond from $7.25 to $6.50 and set a "hold" rating for the company in a report on Monday, March 10th. Finally, Wedbush restated an "outperform" rating and issued a $15.00 target price on shares of Beyond in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $9.64.

Insiders Place Their Bets

In other news, Chairman Marcus Lemonis purchased 19,193 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $5.03 per share, for a total transaction of $96,540.79. Following the completion of the transaction, the chairman now directly owns 456,151 shares in the company, valued at $2,294,439.53. This trade represents a 4.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

Beyond Stock Performance

BYON stock traded up $0.08 during midday trading on Thursday, reaching $4.18. 484,001 shares of the company's stock traded hands, compared to its average volume of 2,632,864. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Beyond, Inc. has a 52-week low of $3.54 and a 52-week high of $23.72. The stock has a market cap of $230.55 million, a P/E ratio of -0.57 and a beta of 4.09. The stock's 50-day moving average is $5.36 and its 200 day moving average is $6.38.

Beyond (NYSE:BYON - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.17). The company had revenue of $303.15 million during the quarter, compared to analysts' expectations of $337.96 million. Beyond had a negative return on equity of 69.32% and a negative net margin of 22.82%. As a group, analysts anticipate that Beyond, Inc. will post -3.75 EPS for the current year.

About Beyond

Beyond, Inc operates as an online retailer of furniture and home furnishings products in the United States and Canada. The company offers furniture, bedding and bath, patio and outdoor gear, area rugs, tabletop and cookware, décor, storage and organization, small appliances, home improvement, and other products under the Bed Bath & Beyond brand.