On March 8, 2023 at 11:37:13 ET an unusually large $400.00K block of Put contracts in Bed Bath & Beyond (BBBY) was sold, with a strike price of $4.00 / share, expiring in 317 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 3.85 sigmas above the mean, placing it in the 90.91 percentile of all recent large trades made in BBBY options.
This trade was first picked up on Fintel’s real time Options Flow tool, where all large block option trades are tracked.
Analyst Price Forecast Suggests 28.13% Upside
As of March 8, 2023, the average one-year price target for Bed Bath & Beyond is $1.72. The forecasts range from a low of $0.10 to a high of $4.20. The average price target represents an increase of 28.13% from its latest reported closing price of $1.34.
What is the Fund Sentiment?
There are 428 funds or institutions reporting positions in Bed Bath & Beyond. This is a decrease of 43 owner(s) or 9.13% in the last quarter. Average portfolio weight of all funds dedicated to BBBY is 0.02%, a decrease of 50.67%. Total shares owned by institutions increased in the last three months by 12.09% to 58,075K shares. The put/call ratio of BBBY is 0.62, indicating a bullish outlook.
What are large shareholders doing?
IJR – iShares Core S&P Small-Cap ETF holds 5,683K shares representing 4.86% ownership of the company. In it’s prior filing, the firm reported owning 5,066K shares, representing an increase of 10.86%. The firm decreased its portfolio allocation in BBBY by 57.94% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 3,448K shares representing 2.95% ownership of the company. In it’s prior filing, the firm reported owning 2,285K shares, representing an increase of 33.73%. The firm decreased its portfolio allocation in BBBY by 42.57% over the last quarter.
Allianz Asset Management holds 2,863K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 1,753K shares, representing an increase of 38.77%. The firm decreased its portfolio allocation in BBBY by 99.97% over the last quarter.
Invesco holds 2,364K shares representing 2.02% ownership of the company. In it’s prior filing, the firm reported owning 987K shares, representing an increase of 58.22%. The firm decreased its portfolio allocation in BBBY by 10.22% over the last quarter.
IWM – iShares Russell 2000 ETF holds 1,815K shares representing 1.55% ownership of the company. In it’s prior filing, the firm reported owning 1,738K shares, representing an increase of 4.25%. The firm decreased its portfolio allocation in BBBY by 61.02% over the last quarter.
Bed, Bath & Beyond Background Information
(This description is provided by the company.)
Bed Bath & Beyond Inc. and subsidiaries (the ‘Company’) is an omnichannel retailer that makes it easy for its customers to feel at home. The Company sells a wide assortment of merchandise in the Home, Baby, Beauty and Wellness markets. Additionally, the Company is a partner in a joint venture which operates retail stores in Mexico under the name Bed Bath & Beyond.
This article originally appeared on Fintel
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