Verition Fund Management LLC Sells 476,560 Shares of Beyond, Inc. (NYSE:BYON)

Verition Fund Management LLC lessened its stake in shares of Beyond, Inc. (NYSE:BYON) by 95.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,269 shares of the company’s stock after selling 476,560 shares during the period. Verition Fund Management LLC’s holdings in Beyond were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC bought a new position in shares of Beyond during the second quarter valued at $44,000. CWM LLC bought a new stake in Beyond during the 2nd quarter valued at about $46,000. Hollencrest Capital Management purchased a new position in Beyond in the second quarter worth about $46,000. Sunbelt Securities Inc. bought a new position in shares of Beyond in the second quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Beyond during the second quarter valued at approximately $75,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Beyond Stock Down 5.9 %

Shares of BYON stock opened at $5.25 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. Beyond, Inc. has a 12 month low of $5.25 and a 12 month high of $37.10. The stock has a market cap of $241.76 million, a P/E ratio of -0.71 and a beta of 3.70. The company has a 50 day simple moving average of $7.23 and a two-hundred day simple moving average of $10.27.

Insider Activity

In related news, Chairman Marcus Lemonis acquired 156,985 shares of the stock in a transaction dated Sunday, October 27th. The shares were purchased at an average cost of $6.37 per share, with a total value of $999,994.45. Following the transaction, the chairman now directly owns 365,530 shares in the company, valued at approximately $2,328,426.10. This represents a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

BYON has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Beyond from $14.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Wedbush reduced their price objective on Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Jefferies Financial Group dropped their price target on shares of Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Piper Sandler decreased their price objective on shares of Beyond from $14.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, Bank of America cut shares of Beyond from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $12.50 to $6.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Beyond currently has a consensus rating of “Hold” and a consensus price target of $16.50.

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.