Penserra Capital Management LLC Sells 39,384 Shares of Beyond, Inc. (NYSE:BYON)

Penserra Capital Management LLC cut its holdings in Beyond, Inc. (NYSE:BYON) by 18.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,693 shares of the company’s stock after selling 39,384 shares during the period. Penserra Capital Management LLC’s holdings in Beyond were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BYON. Tidal Investments LLC bought a new stake in Beyond in the first quarter worth approximately $33,599,000. Dimensional Fund Advisors LP bought a new stake in shares of Beyond in the 2nd quarter valued at $9,538,000. Refined Wealth Management bought a new stake in shares of Beyond in the 2nd quarter valued at $4,201,000. Royce & Associates LP boosted its stake in Beyond by 57.8% during the third quarter. Royce & Associates LP now owns 845,977 shares of the company’s stock worth $8,527,000 after acquiring an additional 309,810 shares in the last quarter. Finally, ProShare Advisors LLC acquired a new stake in Beyond in the second quarter worth $3,800,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Beyond Trading Up 9.4 %

NYSE BYON opened at $6.27 on Tuesday. 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 business has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $11.37. Beyond, Inc. has a 12 month low of $5.57 and a 12 month high of $37.10. The firm has a market capitalization of $288.73 million, a P/E ratio of -0.85 and a beta of 3.70.

Insider Activity

In other Beyond news, Chairman Marcus Lemonis bought 156,985 shares of Beyond stock in a transaction dated 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 acquisition, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. The trade was a 75.28 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BYON shares. Barclays dropped their price objective 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. Bank of America lowered Beyond from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $12.50 to $6.00 in a report on Friday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Beyond in a research report on Wednesday, October 23rd. Maxim Group cut their target price on Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Wedbush decreased their price target on shares of Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Beyond presently has an average rating of “Hold” and a consensus price target of $16.50.

Beyond 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.