Federated Hermes Inc. Reduces Stake in Beyond, Inc. (NYSE:BYON)

Federated Hermes Inc. reduced its stake in Beyond, Inc. (NYSE:BYON) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 678,159 shares of the company’s stock after selling 49,999 shares during the quarter. Federated Hermes Inc. owned approximately 1.18% of Beyond worth $3,933,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BYON. Canada Pension Plan Investment Board purchased a new position in shares of Beyond during the 4th quarter worth $32,000. KLP Kapitalforvaltning AS purchased a new position in shares of Beyond during the 4th quarter worth $39,000. Pingora Partners LLC purchased a new position in shares of Beyond during the 4th quarter worth $41,000. Platform Technology Partners purchased a new position in shares of Beyond during the 1st quarter worth $59,000. Finally, CWM LLC grew its holdings in shares of Beyond by 188.8% during the 1st quarter. CWM LLC now owns 10,745 shares of the company’s stock worth $62,000 after purchasing an additional 7,025 shares during the period. 76.30% of the stock is currently owned by hedge funds and other institutional investors.

Beyond Trading Down 2.8%

BYON opened at $7.93 on Tuesday. The stock’s 50-day moving average price is $7.57 and its 200 day moving average price is $6.44. Beyond, Inc. has a 12-month low of $3.54 and a 12-month high of $12.24. The firm has a market cap of $455.26 million, a price-to-earnings ratio of -1.95 and a beta of 2.76.

Beyond (NYSE:BYON) last posted its earnings results on Monday, July 28th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.15. Beyond had a negative return on equity of 78.27% and a negative net margin of 17.86%. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $250.37 million. During the same quarter in the prior year, the company earned ($0.76) EPS. Beyond’s revenue was down 29.1% on a year-over-year basis. On average, research analysts forecast that Beyond, Inc. will post -3.75 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BYON. Jefferies Financial Group lowered their price target on Beyond from $6.50 to $5.00 and set a “hold” rating for the company in a report on Tuesday, April 29th. Needham & Company LLC reiterated a “hold” rating on shares of Beyond in a report on Tuesday, July 29th. Wall Street Zen upgraded Beyond from a “sell” rating to a “hold” rating in a report on Saturday. Wedbush increased their price target on Beyond from $10.00 to $13.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Finally, Barclays decreased their target price on Beyond from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.86.

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.