Stock Short Interest Filing: Could Best Buy Incorporated (NYSE:BBY) Change Direction After Less Shorts?

November 25, 2016 - By Marie Mckinney   ·   0 Comments

Stock Short Interest Filing: Could Best Buy Incorporated (NYSE:BBY) Change Direction After Less Shorts?

The stock of Best Buy Incorporated (NYSE:BBY) registered a decrease of 6.12% in short interest. BBY’s total short interest was 33.76M shares in November as published by FINRA. Its down 6.12% from 35.96 million shares, reported previously. With 3.35M shares average volume, it will take short sellers 10 days to cover their BBY’s short positions. The short interest to Best Buy Incorporated’s float is 12.26%. About 1.13M shares traded hands. Best Buy Co Inc (NYSE:BBY) has risen 41.36% since April 22, 2016 and is uptrending. It has outperformed by 35.95% the S&P500.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $15.05 billion. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents or using its Websites or mobile applications. It has a 14.47 P/E ratio. It operates through two divisions: Domestic and International.

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.07, from 1.07 in 2016Q1. The ratio dived, as 44 funds sold all Best Buy Co Inc shares owned while 139 reduced positions. 42 funds bought stakes while 153 increased positions. They now own 263.98 million shares or 4.84% less from 277.42 million shares in 2016Q1.
Breton Hill Capital Ltd accumulated 0.28% or 28,366 shares. Pggm has invested 0.03% of its portfolio in Best Buy Co Inc (NYSE:BBY). Oregon Employees Retirement Fund holds 0.07% or 103,871 shares in its portfolio. The New Jersey-based Kcg has invested 0.03% in Best Buy Co Inc (NYSE:BBY). Analytic Investors Ltd Liability Co last reported 0% of its portfolio in the stock. Glg Ltd Limited Liability Company, a New York-based fund reported 16,020 shares. The California-based Tcw Group Inc has invested 0% in Best Buy Co Inc (NYSE:BBY). Aqr Mngmt Llc has invested 0.3% of its portfolio in Best Buy Co Inc (NYSE:BBY). New Amsterdam Partners Ltd Limited Liability Company Ny, a New York-based fund reported 18,532 shares. Moreover, Rothschild Asset Management has 0.01% invested in Best Buy Co Inc (NYSE:BBY) for 14,491 shares. Moreover, Tower Research Lc (Trc) has 0.04% invested in Best Buy Co Inc (NYSE:BBY) for 14,072 shares. Gulf Interest Bancshares (Uk) Ltd accumulated 89,313 shares or 0.05% of the stock. The Wisconsin-based Legacy Private Trust has invested 0.14% in Best Buy Co Inc (NYSE:BBY). Americafirst Capital Mgmt Llc accumulated 0% or 25,256 shares. Ls Inv Advsr Ltd Limited Liability Company owns 10,736 shares or 0.02% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 8 insider sales for $21.76 million net activity. MOHAN RAJENDRA M sold $2.79M worth of Best Buy Co Inc (NYSE:BBY) on Monday, November 21. 1,030 shares were sold by Watson Mathew, worth $40,630 on Thursday, August 25. Nelsen Keith J also sold $2.31M worth of Best Buy Co Inc (NYSE:BBY) shares. Ballard Shari L also sold $7.00 million worth of Best Buy Co Inc (NYSE:BBY) shares. $682,502 worth of Best Buy Co Inc (NYSE:BBY) was sold by HIGGINS VICTOR KATHY J on Monday, November 21.

Best Buy Co Inc (NYSE:BBY) Ratings Coverage

Out of 20 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 30% are positive. Best Buy Co has been the topic of 52 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Telsey Advisory Group maintained the shares of BBY in a report on Friday, November 18 with “Outperform” rating. The firm has “Underperform” rating given on Friday, November 18 by Wedbush. On Monday, August 10 the stock rating was upgraded by Vetr to “Buy”. Telsey Advisory Group maintained it with “Outperform” rating and $38 target price in Friday, January 15 report. Raymond James maintained Best Buy Co Inc (NYSE:BBY) rating on Wednesday, August 24. Raymond James has “Buy” rating and $45 price target. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Monday, November 16 report. On Monday, August 10 the stock rating was maintained by UBS with “Neutral”. The company was maintained on Wednesday, August 24 by Telsey Advisory Group. The stock has “Neutral” rating given by Goldman Sachs on Friday, February 19. As per Wednesday, August 24, the company rating was maintained by SunTrust.

BBY Company Profile

Best Buy Co., Inc., incorporated on October 20, 1966, is a well-known provider of technology products, services and solutions. The Firm offers services and products to the clients visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has activities in the United States, Canada and Mexico. The Firm operates through two divisions: Domestic and International. The Domestic segment consists of the activities in all states, districts and territories of the United States, under various brand names, including Best Buy, bestbuy.com, Best Buy Mobile, Best Buy Direct, Best Buy Express, Geek Squad, Magnolia Home Theater, and Pacific Kitchen and Home. The International segment consists of all activities in Canada and Mexico under the brand names, Best Buy, bestbuy.com.ca, bestbuy.com.mx, Best Buy Express, Best Buy Mobile and Geek Squad. The Firm operates approximately 1,200 large-format and over 400 small-format stores throughout its Domestic and International divisions. It has a global sourcing operation to design, develop, test and contract-manufacture its brand products.

More notable recent Best Buy Co Inc (NYSE:BBY) news were published by: Fool.com which released: “Why Best Buy Co., Inc. Stock Soared Today” on November 17, 2016, also Investorplace.com with their article: “Google Shop Launches: Alphabet Inc (GOOGL) Partners With Best Buy Co Inc (BBY)” published on November 21, 2016, Investorplace.com published: “3 Big Stock Charts for Wednesday: Best Buy Co Inc (BBY), Darden Restaurants …” on November 23, 2016. More interesting news about Best Buy Co Inc (NYSE:BBY) were released by: Investorplace.com and their article: “Why Best Buy Co Inc Could Be a Top Value Stock Pick (BBY)” published on November 23, 2016 as well as Investorplace.com‘s news article titled: “Best Buy Co Inc (BBY) Stock Is No Holiday Bargain” with publication date: November 14, 2016.

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By Marie Mckinney


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