Jump Financial LLC Invests $2.12 Million in Bed Bath & Beyond, Inc. $BBBY

Key Points

• Jump Financial LLC acquired a new stake in Beyond, Inc. by purchasing 365,135 shares valued at approximately $2,118,000, totaling around 0.63% of the company.
• Beyond's quarterly earnings showed a loss of ($0.22) EPS, surpassing the expected loss of ($0.37), while revenues were down 29.1% year-over-year.
• Noteworthy analysts' ratings include Barclays lowering its price target to $5.00, while Wedbush raised it to $13.00, reflecting mixed sentiments towards Beyond's stock performance.

Jump Financial LLC bought a new stake in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 365,135 shares of the company's stock, valued at approximately $2,118,000. Jump Financial LLC owned about 0.63% of Bed Bath & Beyond at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its holdings in Bed Bath & Beyond by 104.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,531 shares of the company's stock valued at $32,000 after buying an additional 2,823 shares in the last quarter. Platform Technology Partners bought a new stake in shares of Bed Bath & Beyond in the first quarter valued at about $59,000. CWM LLC grew its stake in shares of Bed Bath & Beyond by 188.8% in the first quarter. CWM LLC now owns 10,745 shares of the company's stock valued at $62,000 after acquiring an additional 7,025 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Bed Bath & Beyond in the fourth quarter valued at about $71,000. Finally, Haven Private LLC bought a new position in Bed Bath & Beyond during the first quarter worth about $71,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Bed Bath & Beyond Price Performance

BBBY traded down $0.86 during trading on Tuesday, hitting $8.15. 2,934,095 shares of the stock traded hands, compared to its average volume of 3,133,859. Bed Bath & Beyond, Inc. has a twelve month low of $3.54 and a twelve month high of $12.24. The company has a market cap of $467.86 million, a price-to-earnings ratio of -2.00 and a beta of 2.76. The business has a 50 day moving average price of $8.64 and a 200 day moving average price of $6.59.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.15. Bed Bath & Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%.The firm had revenue of $282.25 million for the quarter, compared to the consensus estimate of $250.37 million. During the same quarter last year, the business posted ($0.76) EPS. The company's revenue was down 29.1% compared to the same quarter last year. On average, equities research analysts predict that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on BBBY shares. Wedbush boosted their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Bed Bath & Beyond from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Needham & Company LLC reissued a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Bed Bath & Beyond has an average rating of "Hold" and a consensus target price of $8.86.

Bed Bath & Beyond Profile

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.