Second Line Capital LLC Has $1.52 Million Stake in Beyond, Inc. (NYSE:BYON)

Second Line Capital LLC lifted its stake in shares of Beyond, Inc. (NYSE:BYON) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,053 shares of the company’s stock after purchasing an additional 30,196 shares during the period. Second Line Capital LLC owned approximately 0.33% of Beyond worth $1,523,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BYON. The Manufacturers Life Insurance Company lifted its stake in Beyond by 8.2% in the 2nd 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 in the last quarter. Fortis Group Advisors LLC lifted its position in Beyond by 14.4% during the third quarter. Fortis Group Advisors LLC now owns 13,689 shares of the company’s stock worth $138,000 after purchasing an additional 1,724 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Beyond by 25.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,127 shares of the company’s stock valued at $152,000 after purchasing an additional 3,059 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Beyond in the second quarter worth about $44,000. Finally, Hollencrest Capital Management bought a new position in Beyond in the 2nd quarter valued at approximately $46,000. Institutional investors own 76.30% of the company’s stock.

Wall Street Analyst Weigh In

BYON has been the topic of several recent research reports. Bank of America downgraded shares of Beyond from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $12.50 to $6.00 in a research report on Friday, October 25th. Wedbush decreased their price target on Beyond from $25.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Beyond in a report on Wednesday, October 23rd. 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 research report on Tuesday, October 29th. Finally, Maxim Group lowered their target price on Beyond from $33.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $16.50.

Beyond Stock Performance

Shares of BYON stock opened at $5.68 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.91 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $10.55. Beyond, Inc. has a 12 month low of $5.57 and a 12 month high of $37.10. The firm has a market capitalization of $261.56 million, a PE ratio of -0.77 and a beta of 3.70.

Insider Buying and Selling

In related news, Chairman Marcus Lemonis acquired 156,985 shares of the company’s stock in a transaction 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 purchase, the chairman now owns 365,530 shares in the company, valued at approximately $2,328,426.10. The trade was a 75.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Beyond 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.