Connor Clark & Lunn Investment Management Ltd. Decreases Stake in Beyond, Inc. (NYSE:BYON)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Beyond, Inc. (NYSE:BYON) by 34.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,695 shares of the company’s stock after selling 126,917 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Beyond were worth $2,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BYON. Ashton Thomas Private Wealth LLC bought a new position in shares of Beyond during the second quarter valued at about $44,000. CWM LLC bought a new position in Beyond during the 2nd quarter valued at approximately $46,000. Hollencrest Capital Management purchased a new stake in Beyond in the 2nd quarter worth approximately $46,000. Sunbelt Securities Inc. bought a new stake in shares of Beyond in the 2nd quarter worth approximately $47,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Beyond during the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Analysts Set New Price Targets

BYON has been the topic of several recent analyst reports. Barclays cut their price target on shares of Beyond from $14.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of Beyond in a research report on Wednesday, October 23rd. Bank of America lowered shares of Beyond from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Piper Sandler reduced their target price on Beyond from $14.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Finally, Jefferies Financial Group lowered their target price on Beyond from $14.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Beyond currently has an average rating of “Hold” and an average target price of $16.50.

Beyond Stock Performance

Beyond stock opened at $5.73 on Monday. Beyond, Inc. has a twelve month low of $5.57 and a twelve month high of $37.10. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $263.87 million, a P/E ratio of -0.78 and a beta of 3.70. The stock’s 50 day moving average is $8.49 and its 200 day moving average is $11.45.

Insiders Place Their Bets

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

Beyond Company Profile

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.