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

by · The Cerbat Gem

Penserra Capital Management LLC reduced its holdings in shares of Beyond, Inc. (NYSE:BYON – Free Report) by 18.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,693 shares of the company’s stock after selling 39,384 shares during the quarter. Penserra Capital Management LLC owned approximately 0.37% of Beyond worth $1,720,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BYON. SRN Advisors LLC increased its holdings in shares of Beyond by 2.4% during the first quarter. SRN Advisors LLC now owns 44,631 shares of the company’s stock worth $1,603,000 after purchasing an additional 1,061 shares during the period. The Manufacturers Life Insurance Company grew its position in Beyond by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 17,818 shares of the company’s stock valued at $233,000 after acquiring an additional 1,348 shares during the last quarter. Fortis Group Advisors LLC grew its position in Beyond by 14.4% in the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock valued at $138,000 after acquiring an additional 1,724 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Beyond during the first quarter worth about $66,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Beyond in the first quarter worth about $71,000. 76.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BYON. Maxim Group decreased their price target on shares of Beyond from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Bank of America cut shares of Beyond from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $12.50 to $6.00 in a research note on Friday, October 25th. Wedbush lowered their price target on shares of 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 cut their price objective on Beyond from $14.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, September 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Beyond in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $16.50.

Get Our Latest Analysis on Beyond

Insider Activity

In related news, Chairman Marcus Lemonis bought 156,985 shares of Beyond stock in a transaction that occurred on Sunday, October 27th. The shares were acquired at an average cost of $6.37 per share, for a total transaction of $999,994.45. Following the completion of the acquisition, the chairman now directly owns 365,530 shares of the company’s stock, valued at approximately $2,328,426.10. The trade was a 75.28 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

Beyond Stock Up 9.4 %

Shares of NYSE:BYON opened at $6.27 on Tuesday. The firm has a market cap of $288.73 million, a P/E ratio of -0.85 and a beta of 3.70. Beyond, Inc. has a 12-month low of $5.57 and a 12-month high of $37.10. The business has a fifty day simple moving average of $8.39 and a 200 day simple moving average of $11.37. The company has a quick ratio of 0.91, a current ratio of 0.97 and a debt-to-equity ratio of 0.17.

About Beyond

(Free Report)

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.

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