Bed Bath & Beyond, Inc. (NYSE:BBBY) Short Interest Up 14.7% in April

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

Insider Activity

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

Institutional Investors Weigh In On Bed Bath & Beyond

A number of large investors have recently bought and sold shares of BBBY. AQR Capital Management LLC grew its holdings in Bed Bath & Beyond by 217.4% in the first quarter. AQR Capital Management LLC now owns 131,501 shares of the company’s stock worth $763,000 after purchasing an additional 90,076 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Bed Bath & Beyond by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,512 shares of the company’s stock worth $386,000 after purchasing an additional 15,707 shares during the period. Strs Ohio acquired a new stake in Bed Bath & Beyond in the first quarter worth $151,000. Rhumbline Advisers grew its holdings in shares of Bed Bath & Beyond by 38.9% during the second quarter. Rhumbline Advisers now owns 97,453 shares of the company’s stock valued at $670,000 after buying an additional 27,286 shares during the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Bed Bath & Beyond during the second quarter valued at about $378,000. 76.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BBBY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Bed Bath & Beyond in a research note on Monday, April 20th. Piper Sandler set a $8.00 price target on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Wedbush reaffirmed 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 analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

Bed Bath & Beyond Trading Up 2.0%

NYSE:BBBY opened at $4.92 on Friday. The stock has a market capitalization of $363.42 million, a price-to-earnings ratio of -5.17 and a beta of 3.01. The firm has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $5.98. Bed Bath & Beyond has a 12 month low of $3.74 and a 12 month high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last posted its quarterly earnings results on Monday, April 27th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business 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%. Equities analysts predict that Bed Bath & Beyond will post -0.71 earnings per share for the current fiscal year.

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.