Bed Bath & Beyond, Inc. $BBBY Shares Bought by Murchinson Ltd.

Key Points

• Murchinson Ltd. increased its stake in Bed Bath & Beyond by 66.7%, owning 100,000 shares valued at approximately $580,000 after acquiring an additional 40,000 shares in the first quarter.
• Several large investors have recently made new positions in Bed Bath & Beyond, contributing to institutional investors and hedge funds now holding 76.30% of the company's stock.
• The company's quarterly earnings report showed a loss of ($0.22) per share, better than the expected ($0.37), with revenues significantly down 29.1% year-over-year.

Murchinson Ltd. raised its position in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) by 66.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after buying an additional 40,000 shares during the quarter. Murchinson Ltd. owned about 0.17% of Bed Bath & Beyond worth $580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Bed Bath & Beyond by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company's stock valued at $386,000 after buying an additional 15,707 shares in the last quarter. AQR Capital Management LLC raised its stake in Bed Bath & Beyond by 217.4% during the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company's stock valued at $763,000 after buying an additional 90,076 shares in the last quarter. PDT Partners LLC acquired a new stake in Bed Bath & Beyond during the first quarter valued at approximately $642,000. OLD Mission Capital LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $67,000. Finally, Ieq Capital LLC acquired a new stake in shares of Bed Bath & Beyond during the 1st quarter worth approximately $103,000. Institutional investors and hedge funds own 76.30% of the company's stock.

Wall Street Analyst Weigh In

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

Bed Bath & Beyond Trading Up 2.2%

BBBY traded up $0.23 during trading hours on Thursday, hitting $10.55. The company's stock had a trading volume of 900,589 shares, compared to its average volume of 3,112,110. Bed Bath & Beyond, Inc. has a fifty-two week low of $3.54 and a fifty-two week high of $12.20. The firm has a market capitalization of $605.68 million, a PE ratio of -2.59 and a beta of 2.77. The company has a 50-day simple moving average of $8.98 and a 200 day simple moving average of $6.66.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $282.25 million for the quarter, compared to analysts' expectations of $250.37 million. During the same period last year, the firm earned ($0.76) EPS. The firm's revenue for the quarter was down 29.1% on a year-over-year basis. Research analysts expect that Bed Bath & Beyond, Inc. will post -3.75 earnings per share for the current fiscal year.

Bed Bath & Beyond Company 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.