Franklin Resources Inc. Buys 2,411 Shares of Beyond, Inc. (NYSE:BYON)

Franklin Resources Inc. lifted its stake in shares of Beyond, Inc. (NYSE:BYON) by 12.8% in the third quarter, HoldingsChannel reports. The fund owned 21,299 shares of the company’s stock after acquiring an additional 2,411 shares during the period. Franklin Resources Inc.’s holdings in Beyond were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BYON. Second Line Capital LLC boosted its holdings in Beyond by 25.0% in the 3rd quarter. Second Line Capital LLC now owns 151,053 shares of the company’s stock worth $1,523,000 after buying an additional 30,196 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Beyond in the third quarter valued at about $107,000. State Street Corp boosted its stake in shares of Beyond by 0.9% in the third quarter. State Street Corp now owns 1,016,563 shares of the company’s stock worth $10,247,000 after acquiring an additional 8,580 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Beyond during the third quarter worth about $80,000. Finally, HighTower Advisors LLC raised its stake in Beyond by 34.4% during the 3rd quarter. HighTower Advisors LLC now owns 79,018 shares of the company’s stock valued at $795,000 after purchasing an additional 20,242 shares during the period. 76.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wedbush cut their price objective on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Maxim Group cut their target price on shares of Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Bank of America cut shares of Beyond from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $12.50 to $6.00 in a research note on Friday, October 25th. Argus downgraded shares of Beyond from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. Finally, Barclays reduced their target price on Beyond from $14.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Beyond presently has a consensus rating of “Hold” and an average price target of $16.50.

Beyond Stock Up 1.4 %

Shares of NYSE BYON opened at $4.93 on Thursday. The stock has a market capitalization of $227.01 million, a price-to-earnings ratio of -0.67 and a beta of 3.70. Beyond, Inc. has a 12-month low of $4.45 and a 12-month high of $37.10. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm’s 50-day moving average price is $5.86 and its 200-day moving average price is $9.40.

Insider Buying and Selling at Beyond

In other news, Chairman Marcus Lemonis acquired 156,985 shares of the company’s stock in a transaction on Sunday, October 27th. The stock was bought at an average cost of $6.37 per share, with a total value of $999,994.45. Following the completion of the purchase, the chairman now directly owns 365,530 shares of the company’s stock, valued at $2,328,426.10. This represents a 75.28 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.

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.