Bed Bath & Beyond, Inc. (NYSE:BBBY) Sees Large Increase in Short Interest

Bed Bath & Beyond, Inc. (NYSE:BBBY) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 9,065,481 shares, a growth of 14.7% from the March 31st total of 7,900,994 shares. Based on an average daily volume of 1,930,661 shares, the short-interest ratio is currently 4.7 days. Currently, 13.3% of the shares of the company are short sold.

Insider Buying and Selling at Bed Bath & Beyond

In other news, Director Joseph J. Tabacco, Jr. bought 20,000 shares of Bed Bath & Beyond stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $5.11 per share, with a total value of $102,200.00. Following the acquisition, the director owned 167,209 shares of the company’s stock, valued at approximately $854,437.99. This trade represents a 13.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Bed Bath & Beyond

A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in Bed Bath & Beyond by 20.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,291 shares of the company’s stock worth $140,000 after buying an additional 3,469 shares during the last quarter. Headlands Technologies LLC purchased a new position in Bed Bath & Beyond during the 2nd quarter worth $33,000. Public Employees Retirement System of Ohio purchased a new position in Bed Bath & Beyond during the 4th quarter worth $37,000. New York State Common Retirement Fund purchased a new position in Bed Bath & Beyond during the 4th quarter worth $47,000. Finally, WMG Financial Advisors LLC raised its position in Bed Bath & Beyond by 9.5% during the 1st quarter. WMG Financial Advisors LLC now owns 101,700 shares of the company’s stock worth $472,000 after buying an additional 8,850 shares during the last quarter. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Bed Bath & Beyond Price Performance

Shares of NYSE:BBBY opened at $5.45 on Friday. The stock has a market cap of $402.59 million, a P/E ratio of -5.73 and a beta of 3.01. The firm has a fifty day moving average price of $5.02 and a 200 day moving average price of $5.98. Bed Bath & Beyond has a 1-year low of $3.74 and a 1-year high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $248.00 million during the quarter. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%. Sell-side analysts expect that Bed Bath & Beyond will post -0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BBBY. Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Monday, April 20th. Finally, Wedbush reiterated an “outperform” rating and set a $8.00 price target (up from $7.00) on shares of Bed Bath & Beyond in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Bed Bath & Beyond presently has an average rating of “Hold” and a consensus target price of $8.00.

About Bed Bath & Beyond

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.