Stock Traders Buy Large Volume of Call Options on Bed Bath & Beyond (NASDAQ:BBBY)

Bed Bath & Beyond Inc. (NASDAQ:BBBYGet Rating) saw unusually large options trading activity on Monday. Traders purchased 91,968 call options on the company. This is an increase of 54% compared to the average daily volume of 59,612 call options.

Bed Bath & Beyond Trading Up 14.7 %

Shares of NASDAQ BBBY opened at $5.77 on Tuesday. The firm’s 50 day moving average price is $6.32 and its 200-day moving average price is $13.06. The company has a market cap of $461.37 million, a PE ratio of -0.59 and a beta of 1.90. Bed Bath & Beyond has a 52-week low of $4.38 and a 52-week high of $30.14. The company has a debt-to-equity ratio of 6.77, a quick ratio of 0.15 and a current ratio of 1.02.

Bed Bath & Beyond (NASDAQ:BBBYGet Rating) last issued its earnings results on Wednesday, June 29th. The retailer reported ($2.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.33) by ($1.50). Bed Bath & Beyond had a negative return on equity of 90.91% and a negative net margin of 11.74%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the company posted $0.05 EPS. The company’s quarterly revenue was down 25.1% on a year-over-year basis. On average, equities research analysts expect that Bed Bath & Beyond will post -5.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BBBY. B. Riley decreased their price objective on shares of Bed Bath & Beyond from $7.00 to $5.00 in a research report on Thursday, June 30th. Telsey Advisory Group decreased their price objective on shares of Bed Bath & Beyond from $6.00 to $3.00 and set an “underperform” rating on the stock in a research report on Thursday, June 30th. Morgan Stanley decreased their price objective on shares of Bed Bath & Beyond from $7.00 to $2.00 and set an “underweight” rating on the stock in a research report on Thursday, June 30th. Wedbush cut their target price on shares of Bed Bath & Beyond to $5.00 in a research note on Monday, July 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Bed Bath & Beyond from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 8th. Nine equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $6.67.

Insider Transactions at Bed Bath & Beyond

In other Bed Bath & Beyond news, CEO Sue Gove bought 50,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of $4.61 per share, for a total transaction of $230,500.00. Following the transaction, the chief executive officer now directly owns 105,587 shares in the company, valued at $486,756.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jeff Kirwan acquired 10,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were purchased at an average price of $4.90 per share, for a total transaction of $49,000.00. Following the completion of the transaction, the director now owns 43,455 shares of the company’s stock, valued at $212,929.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sue Gove acquired 50,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was purchased at an average price of $4.61 per share, for a total transaction of $230,500.00. Following the transaction, the chief executive officer now directly owns 105,587 shares of the company’s stock, valued at approximately $486,756.07. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 62,000 shares of company stock valued at $288,720. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BBBY. KBC Group NV purchased a new position in shares of Bed Bath & Beyond during the second quarter valued at approximately $45,000. Exchange Traded Concepts LLC purchased a new position in shares of Bed Bath & Beyond during the first quarter valued at approximately $64,000. BDO Wealth Advisors LLC raised its holdings in shares of Bed Bath & Beyond by 1,836.7% during the first quarter. BDO Wealth Advisors LLC now owns 2,905 shares of the retailer’s stock valued at $65,000 after purchasing an additional 2,755 shares during the last quarter. OLD National Bancorp IN purchased a new position in shares of Bed Bath & Beyond during the second quarter valued at approximately $65,000. Finally, XR Securities LLC purchased a new position in shares of Bed Bath & Beyond during the second quarter valued at approximately $69,000.

About Bed Bath & Beyond

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Bed Bath & Beyond Inc, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestics merchandise, including bed linens and related items, bath items, and kitchen textiles; and home furnishings, such as kitchen and tabletop items, fine tabletop, basic housewares, general home furnishings, consumables, and various juvenile products.

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