Cedar Wealth Management LLC Buys Shares of 30,949 Beyond, Inc. (NYSE:BYON)

Cedar Wealth Management LLC purchased a new position in shares of Beyond, Inc. (NYSE:BYON) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 30,949 shares of the company’s stock, valued at approximately $405,000.

A number of other large investors have also made changes to their positions in BYON. Ashton Thomas Private Wealth LLC acquired a new position in Beyond during the second quarter worth $44,000. CWM LLC purchased a new position in Beyond during the 2nd quarter valued at about $46,000. Hollencrest Capital Management purchased a new stake in shares of Beyond in the second quarter valued at about $46,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Beyond in the first quarter valued at approximately $66,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Beyond during the 1st quarter worth approximately $70,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Insider Activity

In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares of the company’s stock, valued at $106,290.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $9.35, for a total value of $97,352.20. Following the completion of the sale, the director now owns 11,368 shares of the company’s stock, valued at $106,290.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barclay F. Corbus bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average price of $10.66 per share, for a total transaction of $53,300.00. Following the completion of the acquisition, the director now owns 66,668 shares in the company, valued at approximately $710,680.88. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

Beyond Price Performance

Beyond stock opened at $10.97 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14. The company has a market cap of $501.88 million, a price-to-earnings ratio of -1.35 and a beta of 3.65. Beyond, Inc. has a 1 year low of $9.05 and a 1 year high of $37.10. The firm has a 50 day moving average price of $11.25 and a 200 day moving average price of $18.27.

Beyond (NYSE:BYON) last issued its earnings results on Monday, July 29th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $398.10 million for the quarter, compared to analyst estimates of $381.74 million. During the same period last year, the company posted ($0.02) EPS. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Sell-side analysts predict that Beyond, Inc. will post -3.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BYON shares. Barclays reduced their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, July 26th. Bank of America cut their price objective on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price objective on shares of Beyond from $17.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Wedbush lowered their target price on shares of Beyond from $37.00 to $25.00 and set an “outperform” 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 given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.29.

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.