PDT Partners LLC Acquires Shares of 110,650 Bed Bath & Beyond, Inc. $BBBY

Key Points

• PDT Partners LLC has invested approximately $642,000 in Beyond, Inc., acquiring 110,650 shares and now owning 0.19% of the company.
• Beyond recently reported earnings of ($0.22) per share for the last quarter, surpassing analysts' expectations of ($0.37), with a revenue of approximately $282.25 million, down 29.1% year-over-year.
• Wall Street analysts have mixed ratings for Beyond, with two Buy, four Hold, and two Sell ratings, reflecting a cautious sentiment amid varying price target upgrades.

PDT Partners LLC purchased a new position in Bed Bath & Beyond, Inc. (NYSE:BBBY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 110,650 shares of the company's stock, valued at approximately $642,000. PDT Partners LLC owned 0.19% of Bed Bath & Beyond at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Tidal Investments LLC raised its position in Bed Bath & Beyond by 140.4% in the fourth quarter. Tidal Investments LLC now owns 2,406,746 shares of the company's stock worth $11,865,000 after acquiring an additional 1,405,770 shares during the period. Two Sigma Investments LP raised its position in Bed Bath & Beyond by 75.1% in the fourth quarter. Two Sigma Investments LP now owns 916,178 shares of the company's stock worth $4,517,000 after acquiring an additional 392,977 shares during the period. Two Sigma Advisers LP raised its position in Bed Bath & Beyond by 362.8% in the fourth quarter. Two Sigma Advisers LP now owns 901,500 shares of the company's stock worth $4,444,000 after acquiring an additional 706,700 shares during the period. Able Wealth Management LLC bought a new stake in shares of Bed Bath & Beyond during the 1st quarter valued at $3,913,000. Finally, BNP Paribas Financial Markets raised its position in shares of Bed Bath & Beyond by 654.5% during the 4th quarter. BNP Paribas Financial Markets now owns 668,415 shares of the company's stock valued at $3,295,000 after purchasing an additional 579,826 shares during the period. 76.30% of the stock is currently owned by institutional investors.

Bed Bath & Beyond Trading Down 1.3%

BBBY traded down $0.14 during trading on Wednesday, hitting $10.97. 532,536 shares of the company traded hands, compared to its average volume of 3,114,304. The company has a market cap of $629.79 million, a PE ratio of -2.70 and a beta of 2.77. Bed Bath & Beyond, Inc. has a 1 year low of $3.54 and a 1 year high of $12.24. The stock's 50-day simple moving average is $8.92 and its two-hundred day simple moving average is $6.63.

Bed Bath & Beyond (NYSE:BBBY - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.15. Bed Bath & Beyond had a negative net margin of 17.86% and a negative return on equity of 78.27%. The company had revenue of $282.25 million for the quarter, compared to analyst estimates of $250.37 million. During the same period in the prior year, the company posted ($0.76) EPS. The firm's revenue for the quarter was down 29.1% on a year-over-year basis. Equities analysts expect that Bed Bath & Beyond, Inc. will post -3.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BBBY. Needham & Company LLC restated a "hold" rating on shares of Bed Bath & Beyond in a research report on Tuesday, July 29th. Wedbush raised their price objective on shares of Bed Bath & Beyond from $10.00 to $13.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Finally, 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. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.86.

About Bed Bath & 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.