Can Best Buy CO Inc (NYSE:BBY)’s Tomorrow Be Different? The Stock Had Decline in Shorts

May 17, 2018 - By John Moody

Best Buy Co., Inc. (NYSE:BBY) Logo

Investors sentiment increased to 0.86 in 2017 Q4. Its up 0.10, from 0.76 in 2017Q3. It increased, as 34 investors sold Best Buy Co., Inc. shares while 198 reduced holdings. 75 funds opened positions while 124 raised stakes. 233.61 million shares or 5.15% less from 246.28 million shares in 2017Q3 were reported.
Mackenzie Fincl has invested 0.01% in Best Buy Co., Inc. (NYSE:BBY). Brown Advisory Llc has invested 0.1% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). 32,315 were accumulated by Amalgamated Bancorp. Barclays Public Limited Com owns 519,386 shares or 0.03% of their US portfolio. Omers Administration accumulated 0.03% or 45,100 shares. Old Mutual Customised Solutions (Proprietary) Limited holds 0.14% or 19,416 shares in its portfolio. Freestone Capital Hldg Ltd Liability has invested 0.43% in Best Buy Co., Inc. (NYSE:BBY). Envestnet Asset has 16,835 shares. Chicago Equity Partners Limited Liability Com has invested 0.25% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Strs Ohio invested 0.01% in Best Buy Co., Inc. (NYSE:BBY). Asset Management reported 67,937 shares stake. 52,011 were reported by Pub Employees Retirement Association Of Colorado. Numeric Limited Liability Company holds 149,600 shares. Apg Asset Mngmt Nv holds 3.59M shares or 0.37% of its portfolio. Parallax Volatility Advisers Ltd Partnership has invested 0% of its portfolio in Best Buy Co., Inc. (NYSE:BBY).

Since December 12, 2017, it had 0 insider buys, and 30 selling transactions for $53.96 million activity. $172,786 worth of stock was sold by Barry Corie S on Wednesday, March 14. On Tuesday, December 12 SCHULZE RICHARD M sold $12.83M worth of Best Buy Co., Inc. (NYSE:BBY) or 200,000 shares. $103,382 worth of Best Buy Co., Inc. (NYSE:BBY) was sold by Nelsen Keith J on Monday, March 12. 225 shares valued at $16,301 were sold by Watson Mathew on Monday, March 12. Walker Patricia H had sold 8,854 shares worth $651,911. On Wednesday, March 14 Scarlett Kathleen sold $49,770 worth of Best Buy Co., Inc. (NYSE:BBY) or 706 shares.

The stock of Best Buy CO Inc (NYSE:BBY) registered a decrease of 15.09% in short interest. BBY’s total short interest was 25.76 million shares in May as published by FINRA. Its down 15.09% from 30.34 million shares, reported previously. With 2.86 million shares average volume, it will take short sellers 9 days to cover their BBY’s short positions. The short interest to Best Buy CO Inc’s float is 10.12%.

The stock increased 1.06% or $0.83 during the last trading session, reaching $79.34. About 1.20 million shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 46.62% since May 17, 2017 and is uptrending. It has outperformed by 35.07% the S&P500.

Best Buy Co., Inc. operates as a retailer of technology products, services, and solutions in the United States, Canada, and Mexico. The company has market cap of $22.37 billion. The firm operates through two reportable divisions, Domestic and International. It has a 24.32 P/E ratio. The Company’s stores provide consumer electronics, such as home theater, home automation, digital imaging, health and fitness, and portable audio products; computing and mobile phones, including computing and peripherals, networking, tablets, smart watches, and e-readers, as well as mobile phones comprising related mobile network carrier commissions; and entertainment products, such as gaming hardware and software, movie, music, technology toy, and other software products.

Best Buy Co., Inc. (NYSE:BBY) Ratings Coverage

Among 14 analysts covering Best Buy Co (NYSE:BBY), 3 have Buy rating, 2 Sell and 9 Hold. Therefore 21% are positive. Best Buy Co had 15 analyst reports since December 4, 2017 according to SRatingsIntel. The firm has “Equal-Weight” rating by Morgan Stanley given on Friday, March 2. Telsey Advisory Group downgraded Best Buy Co., Inc. (NYSE:BBY) on Thursday, January 25 to “Market Perform” rating. Wedbush maintained Best Buy Co., Inc. (NYSE:BBY) rating on Monday, February 26. Wedbush has “Sell” rating and $38.0 target. Credit Suisse maintained it with “Hold” rating and $74.0 target in Monday, March 5 report. The company was maintained on Monday, February 12 by RBC Capital Markets. The firm has “Neutral” rating given on Friday, March 2 by UBS. Barclays Capital maintained the shares of BBY in report on Tuesday, January 30 with “Overweight” rating. Telsey Advisory maintained the shares of BBY in report on Friday, March 2 with “Hold” rating. As per Friday, February 16, the company rating was maintained by Citigroup. The firm has “Buy” rating given on Friday, March 2 by Bank of America.

More news for Best Buy Co., Inc. (NYSE:BBY) were recently published by: Seekingalpha.com, which released: “Best Buy’s Resilience Absolutely Incredible” on April 19, 2018. Benzinga.com‘s article titled: “Amazon, Best Buy Find ‘Mutually Beneficial Opportunities’ In TV Partnership” and published on April 19, 2018 is yet another important article.

Best Buy Co., Inc. (NYSE:BBY) Institutional Positions Chart

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