Stock traders buy large volume of call options on Bed Bath & Beyond (NASDAQ: BBBY)


Bed Bath & Beyond Inc. (NASDAQ:BBBY – Get Rating) saw unusually heavy options trading activity on Monday. Equity investors acquired 91,968 call options on the stock. This is an increase of approximately 54% from the average daily volume of 59,612 call options.

Insider buying and selling

Separately, CEO Sue Gove bought 50,000 shares of the company in a deal that took place on Friday, July 1. The stock was purchased at an average price of $4.61 per share, with a total value of $230,500.00. As a result of the acquisition, the CEO now owns 105,587 shares of the company, valued at approximately $486,756.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Separately, CEO Sue Gove purchased 50,000 shares of the company in a trade on Friday July 1. The shares were acquired at an average price of $4.61 per share, for a total transaction of $230,500.00. As a result of the purchase, the CEO now directly owns 105,587 shares of the company, valued at $486,756.07. The purchase was disclosed in a filing with the SEC, accessible via this link. Additionally, director Jeff Kirwan purchased 10,000 shares of the company in a trade on Friday, July 1. The stock was purchased at an average price of $4.90 per share, for a total transaction of $49,000.00. Following the purchase, the administrator now owns 43,455 shares of the company, valued at $212,929.50. Disclosure of this purchase can be found here. Last quarter, insiders bought 62,000 shares of the company valued at $288,720. Insiders of the company own 1.70% of the shares of the company.

Institutional entries and exits

Hedge funds and other institutional investors have recently changed their positions in the stock. Exchange Traded Concepts LLC bought a new position in shares of Bed Bath & Beyond during the first quarter worth $64,000. BDO Wealth Advisors LLC increased its holdings of Bed Bath & Beyond shares by 1,836.7% in the first quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer worth $65,000 after buying 2,755 additional shares in the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Bed Bath & Beyond during Q1 worth approximately $92,000. National Bank of Canada FI acquired a new stake in Bed Bath & Beyond in the fourth quarter valued at approximately $70,000. Finally, Covestor Ltd increased its stake in Bed Bath & Beyond by 15,521.2% in the 1st quarter. Covestor Ltd now owns 5,155 shares of the retailer valued at $116,000 after acquiring an additional 5,122 shares during the period.

Bed Bath Price Performance and Beyond

Shares of BBBY opened at $5.77 on Tuesday. The company has a debt ratio of 6.77, a current ratio of 1.02 and a quick ratio of 0.15. The company has a market capitalization of $461.37 million, a P/E ratio of -0.59 and a beta of 1.90. The company’s 50-day simple moving average is $6.32 and its two-hundred-day simple moving average is $13.06. Bed Bath & Beyond has a one-year minimum of $4.38 and a one-year maximum of $30.14.

Bed Bath & Beyond (NASDAQ:BBBY – Get Rating) last released quarterly earnings data on Wednesday, June 29. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($1.33) by ($1.50). Bed Bath & Beyond had a negative net margin of 11.74% and a negative return on equity of 90.91%. The company posted revenue of $1.46 billion for the quarter, versus a consensus estimate of $1.51 billion. In the same quarter a year earlier, the company posted earnings of $0.05 per share. Bed Bath & Beyond revenue for the quarter decreased 25.1% year over year. As a group, stock analysts expect Bed Bath & Beyond to post -5.93 EPS for the current year.

Analysts set new price targets

Several analysts have recently released reports on BBBY shares. KeyCorp cut its price target on shares of Bed Bath & Beyond from $6.00 to $5.00 and set an “underweight” rating on the stock in a Tuesday, June 28 research report. Goldman Sachs Group cut its price target on shares of Bed Bath & Beyond from $14.00 to $7.00 and set a “sell” rating on the stock in a Thursday, April 14 research report . B. Riley cut his price target on shares of Bed Bath & Beyond from $7.00 to $5.00 in a Thursday, June 30 research report. Wedbush lowered its price target on shares of Bed Bath & Beyond to $5.00 in a Monday July 4 research report. Finally, Wells Fargo & Company cut its price target on shares of Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report from the Wednesday, June 8. Nine equity research analysts rated the stock with a sell rating and four assigned the stock a hold rating. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $6.67.

Company Profile Bed Bath & Beyond

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Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of household goods, including bed linen and related items, bathware and kitchen textiles; and home furnishings, such as kitchenware and tableware, fine tableware, basic housewares, general home furnishings, consumables and miscellaneous children’s products.

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