GSA Capital Partners LLP Acquires Shares of 168,525 Bed Bath & Beyond, Inc. $BBBY

GSA Capital Partners LLP acquired a new stake in Bed Bath & Beyond, Inc. (NYSE:BBBY) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 168,525 shares of the company’s stock, valued at approximately $920,000.

Other hedge funds have also recently modified their holdings of the company. Able Wealth Management LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter valued at about $4,612,000. WMG Financial Advisors LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter valued at about $507,000. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Bed Bath & Beyond in the fourth quarter valued at about $125,000. Sei Investments Co. purchased a new position in shares of Bed Bath & Beyond in the second quarter valued at about $378,000. Finally, Strs Ohio purchased a new position in shares of Bed Bath & Beyond in the first quarter valued at about $151,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Insider Buying and Selling at Bed Bath & Beyond

In related news, Director Joseph J. Tabacco, Jr. bought 20,000 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were purchased at an average price of $5.11 per share, with a total value of $102,200.00. Following the purchase, the director owned 167,209 shares of the company’s stock, valued at approximately $854,437.99. This trade represents a 13.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.80% of the company’s stock.

Bed Bath & Beyond Trading Down 2.2%

Shares of BBBY opened at $5.60 on Friday. The firm’s 50-day moving average price is $4.96 and its 200-day moving average price is $5.64. The firm has a market capitalization of $414.29 million, a price-to-earnings ratio of -5.90 and a beta of 2.81. Bed Bath & Beyond, Inc. has a 1-year low of $4.26 and a 1-year high of $12.65.

Bed Bath & Beyond (NYSE:BBBY) last announced its earnings results on Monday, April 27th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. The firm had revenue of $248.00 million for the quarter. Bed Bath & Beyond had a negative net margin of 5.76% and a negative return on equity of 27.60%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and issued a $8.00 price objective (up from $7.00) on shares of Bed Bath & Beyond in a research report on Tuesday, April 28th. Piper Sandler set a $8.00 target price on shares of Bed Bath & Beyond and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings lowered shares of Bed Bath & Beyond from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.00.

Bed Bath & Beyond Profile

Bed Bath & Beyond Inc (NYSE:BBBY) was a leading home goods retailer offering a broad assortment of domestics merchandise, including bed linens, bath accessories, kitchenware, home décor and small appliances. Through its flagship Bed Bath & Beyond stores and affiliated banners, the company provided both in-store and online shopping experiences, catering to a wide range of household needs from everyday essentials to specialized nursery and wellness products.

The company was founded in 1971 by Leonard Feinstein and Warren Eisenberg and was headquartered in Union, New Jersey.