WMG Financial Advisors LLC Takes $507,000 Position in Bed Bath & Beyond, Inc. $BBBY

WMG Financial Advisors LLC purchased a new stake in shares of Bed Bath & Beyond, Inc. (NYSE:BBBY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 92,850 shares of the company’s stock, valued at approximately $507,000. WMG Financial Advisors LLC owned 0.13% of Bed Bath & Beyond as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Able Wealth Management LLC acquired a new position in shares of Bed Bath & Beyond during the fourth quarter valued at $4,612,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Bed Bath & Beyond in the fourth quarter worth about $125,000. Choreo LLC acquired a new stake in Bed Bath & Beyond in the fourth quarter worth about $68,000. Headlands Technologies LLC acquired a new stake in Bed Bath & Beyond in the second quarter worth about $33,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Bed Bath & Beyond in the second quarter worth about $3,414,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Insiders Place Their Bets

In other Bed Bath & Beyond news, Director Joseph J. Tabacco, Jr. purchased 20,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was bought 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 $854,437.99. The trade was a 13.59% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Bed Bath & Beyond Stock Down 3.7%

BBBY stock opened at $5.92 on Wednesday. The company has a market capitalization of $410.15 million, a P/E ratio of -4.08 and a beta of 3.01. The company has a 50-day simple moving average of $4.98 and a 200 day simple moving average of $6.17. Bed Bath & Beyond, Inc. has a fifty-two week low of $3.74 and a fifty-two week high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.07. Bed Bath & Beyond had a negative net margin of 8.10% and a negative return on equity of 33.44%. The firm had revenue of $273.43 million for the quarter. Equities analysts anticipate that Bed Bath & Beyond, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on BBBY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a report on Monday. Piper Sandler set a $8.00 price objective on shares of Bed Bath & Beyond and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Wedbush reduced their price objective on shares of Bed Bath & Beyond from $13.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Bed Bath & Beyond Company Profile

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.