SRN Advisors LLC Increases Holdings in Beyond, Inc. (NYSE:BYON)

SRN Advisors LLC raised its stake in Beyond, Inc. (NYSE:BYON) by 48.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 121,001 shares of the company’s stock after buying an additional 39,596 shares during the period. SRN Advisors LLC’s holdings in Beyond were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BYON. The Manufacturers Life Insurance Company raised its position in shares of Beyond by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock valued at $233,000 after buying an additional 1,348 shares during the period. Fortis Group Advisors LLC grew its position in Beyond by 14.4% in the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock worth $138,000 after acquiring an additional 1,724 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in Beyond during the first quarter worth $66,000. DekaBank Deutsche Girozentrale purchased a new stake in Beyond in the first quarter valued at $71,000. Finally, Lazard Asset Management LLC purchased a new stake in Beyond in the first quarter valued at $70,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Beyond

In related news, Director Barclay F. Corbus bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of $10.66 per share, with a total value of $53,300.00. Following the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Barclay F. Corbus bought 5,000 shares of Beyond stock in a transaction dated Thursday, August 1st. The stock was acquired at an average cost of $10.66 per share, with a total value of $53,300.00. Following the acquisition, the director now owns 66,668 shares of the company’s stock, valued at approximately $710,680.88. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Benjamin Nettles, Jr. sold 10,412 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the transaction, the director now owns 11,368 shares in the company, valued at $106,290.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BYON. Barclays cut their price objective on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Maxim Group dropped their price target on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. Piper Sandler decreased their price objective on shares of Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group lowered their price objective on shares of Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, September 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of Beyond in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Beyond presently has an average rating of “Hold” and a consensus price target of $17.50.

Beyond Stock Down 4.8 %

BYON stock opened at $6.37 on Friday. The company’s 50 day moving average price is $10.14 and its 200 day moving average price is $13.77. The firm has a market capitalization of $291.43 million, a price-to-earnings ratio of -0.86 and a beta of 3.65. Beyond, Inc. has a fifty-two week low of $6.06 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14.

Beyond (NYSE:BYON) last announced its quarterly earnings results on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.13. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. The company had revenue of $398.10 million during the quarter, compared to the consensus estimate of $381.74 million. During the same period in the previous year, the business earned ($0.02) EPS. Beyond’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities research analysts anticipate that Beyond, Inc. will post -3.55 EPS for the current fiscal 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.