Amalgamated Bank Has $3.30 Million Position in Best Buy Co., Inc. (NYSE:BBY)

Amalgamated Bank cut its position in shares of Best Buy Co., Inc. (NYSE:BBY) by 2.8% during the 4th quarter, Holdings Channel reports. The firm owned 38,492 shares of the technology retailer’s stock after selling 1,106 shares during the quarter. Amalgamated Bank’s holdings in Best Buy were worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of BBY. Golden State Wealth Management LLC bought a new position in Best Buy during the fourth quarter worth about $32,000. Trust Co. of Vermont boosted its stake in shares of Best Buy by 1,200.0% during the 4th quarter. Trust Co. of Vermont now owns 416 shares of the technology retailer’s stock worth $36,000 after acquiring an additional 384 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $40,000. LRI Investments LLC raised its stake in Best Buy by 632.1% in the 3rd quarter. LRI Investments LLC now owns 388 shares of the technology retailer’s stock valued at $40,000 after acquiring an additional 335 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in Best Buy during the 3rd quarter valued at $44,000. 80.96% of the stock is owned by institutional investors.

Best Buy Stock Up 1.6 %

BBY stock opened at $90.05 on Friday. Best Buy Co., Inc. has a 52 week low of $69.29 and a 52 week high of $103.71. The business has a 50-day simple moving average of $86.40 and a 200 day simple moving average of $90.62. The company has a quick ratio of 0.22, a current ratio of 1.00 and a debt-to-equity ratio of 0.37. The company has a market cap of $19.25 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.43.

Insider Buying and Selling at Best Buy

In related news, CFO Matthew M. Bilunas sold 69,166 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $87.46, for a total transaction of $6,049,258.36. Following the sale, the chief financial officer now owns 92,070 shares in the company, valued at approximately $8,052,442.20. This trade represents a 42.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.59% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BBY. JPMorgan Chase & Co. upped their price objective on shares of Best Buy from $111.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. UBS Group reiterated a “buy” rating on shares of Best Buy in a research note on Friday. Truist Financial lowered their price target on shares of Best Buy from $107.00 to $95.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Citigroup reduced their price objective on Best Buy from $109.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, StockNews.com lowered Best Buy from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.72.

Best Buy Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.