Hollencrest Capital Management Purchases Shares of 3,500 Beyond, Inc. (NYSE:BYON)

Hollencrest Capital Management acquired a new position in Beyond, Inc. (NYSE:BYON) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,500 shares of the company’s stock, valued at approximately $46,000.

Several other hedge funds have also modified their holdings of BYON. American International Group Inc. bought a new stake in shares of Beyond in the 1st quarter worth about $799,000. CANADA LIFE ASSURANCE Co purchased a new stake in Beyond during the first quarter valued at approximately $157,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Beyond in the 1st quarter valued at approximately $8,956,000. Shell Asset Management Co. purchased a new position in shares of Beyond in the 1st quarter worth approximately $2,271,000. Finally, Lazard Asset Management LLC bought a new position in shares of Beyond during the 1st quarter valued at approximately $70,000. 76.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Beyond

In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of the company’s stock in a transaction dated 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 directly owns 11,368 shares of the company’s stock, valued at $106,290.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director William Benjamin Nettles, Jr. sold 10,412 shares of Beyond stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $9.35, for a total transaction of $97,352.20. Following the transaction, the director now directly owns 11,368 shares of the company’s stock, valued at $106,290.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Barclay F. Corbus acquired 5,000 shares of Beyond stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average cost of $10.66 per share, with a total value of $53,300.00. Following the purchase, the director now directly owns 66,668 shares of the company’s stock, valued at $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

Shares of BYON stock opened at $10.37 on Friday. The company’s 50-day simple moving average is $11.18 and its two-hundred day simple moving average is $18.11. Beyond, Inc. has a one year low of $9.05 and a one year high of $37.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.08 and a current ratio of 1.14.

Beyond (NYSE:BYON) last announced its quarterly earnings data on Monday, July 29th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.13. The company had revenue of $398.10 million for the quarter, compared to analysts’ expectations of $381.74 million. Beyond had a negative return on equity of 49.00% and a negative net margin of 22.03%. Beyond’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. On average, sell-side analysts anticipate that Beyond, Inc. will post -3.54 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BYON. Piper Sandler reduced their target price 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. Bank of America reduced their price objective on shares of Beyond from $15.50 to $15.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Barclays dropped their target price on Beyond from $22.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, July 26th. Finally, Wedbush reduced their price target on Beyond from $37.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $27.29.

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.