Fortis Group Advisors LLC Takes Position in Beyond, Inc. (NYSE:BYON)

Fortis Group Advisors LLC bought a new position in shares of Beyond, Inc. (NYSE:BYON) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 11,965 shares of the company’s stock, valued at approximately $157,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BYON. Tidal Investments LLC purchased a new position in Beyond in the first quarter valued at about $33,599,000. Refined Wealth Management purchased a new stake in shares of Beyond during the 2nd quarter valued at about $4,201,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Beyond during the 1st quarter worth approximately $8,956,000. Bank of New York Mellon Corp purchased a new position in Beyond in the 2nd quarter worth approximately $2,188,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Beyond in the second quarter valued at approximately $1,693,000. Institutional investors and hedge funds own 76.30% of the company’s stock.

Beyond Stock Performance

Shares of BYON stock opened at $9.83 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.14 and a debt-to-equity ratio of 0.14. Beyond, Inc. has a one year low of $9.05 and a one year high of $37.10. The company’s 50-day simple moving average is $11.86 and its 200-day simple moving average is $20.04.

Beyond (NYSE:BYON) last released its earnings results on Monday, July 29th. The company reported ($0.76) 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 for the quarter, compared to the consensus estimate of $381.74 million. During the same quarter last year, the business posted ($0.02) EPS. Beyond’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, research analysts forecast that Beyond, Inc. will post -3.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BYON shares. Needham & Company LLC reissued a “hold” rating on shares of Beyond in a research report on Monday, May 20th. Maxim Group cut their price objective on shares of Beyond from $50.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Barclays lowered their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, July 26th. Piper Sandler cut their price target on Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Bank of America lowered their price objective on Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beyond presently has an average rating of “Hold” and a consensus target price of $27.29.

Insiders Place Their Bets

In other Beyond news, Director Barclay F. Corbus bought 5,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $10.66 per share, with a total value of $53,300.00. Following the completion of the acquisition, the director now owns 66,668 shares of the company’s stock, valued at $710,680.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Barclay F. Corbus bought 5,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the purchase, the director now directly owns 66,668 shares in the company, valued at approximately $710,680.88. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marcus Lemonis bought 17,075 shares of the stock in a transaction dated Thursday, June 6th. The shares were bought at an average cost of $14.61 per share, with a total value of $249,465.75. Following the completion of the acquisition, the chairman now directly owns 186,973 shares of the company’s stock, valued at approximately $2,731,675.53. The disclosure for this purchase can be found here. Insiders acquired a total of 32,695 shares of company stock valued at $451,013 over the last 90 days. 1.20% of the stock is owned by company insiders.

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.