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Today Best Buy Incorporated (NYSE:BBY) Reported Decrease in Shorted Shares

December 8, 2017 - By Dolores Ford

 Today Best Buy Incorporated (NYSE:BBY) Reported Decrease in Shorted Shares

Investors sentiment decreased to 0.79 in 2017 Q2. Its down 0.22, from 1.01 in 2017Q1. It dropped, as 43 investors sold Best Buy Co., Inc. shares while 213 reduced holdings. 88 funds opened positions while 113 raised stakes. 253.45 million shares or 5.82% less from 269.11 million shares in 2017Q1 were reported.
Wedge Mngmt L Limited Partnership Nc holds 584,889 shares or 0.32% of its portfolio. James Rech stated it has 1.00 million shares or 1.78% of all its holdings. Spectrum Mngmt Grp holds 21,515 shares or 0.47% of its portfolio. 6,900 are held by Picton Mahoney Asset. Fifth Third State Bank stated it has 1,095 shares or 0% of all its holdings. Aperio Group Limited holds 0.06% in Best Buy Co., Inc. (NYSE:BBY) or 165,483 shares. Sei Invests holds 34,785 shares. Chicago Equity Lc has invested 0.28% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Glenmede Trust Co Na reported 0.01% stake. Horizon Invest Svcs, Indiana-based fund reported 5,457 shares. 5,080 are held by Comml Bank Of Hawaii. Jpmorgan Chase And Communication has invested 0.14% of its portfolio in Best Buy Co., Inc. (NYSE:BBY). Pdts Limited Liability Corporation holds 0.45% or 196,910 shares in its portfolio. 98,003 are owned by Sg Americas Limited Liability. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Invest Mngmt holds 0.16% or 303,800 shares.

Since June 9, 2017, it had 0 insider purchases, and 2 insider sales for $2.31 million activity. 503 shares were sold by Watson Mathew, worth $29,679.

The stock of Best Buy Incorporated (NYSE:BBY) registered a decrease of 4.12% in short interest. BBY’s total short interest was 31.91 million shares in December as published by FINRA. Its down 4.12% from 33.28M shares, reported previously. With 2.99M shares average volume, it will take short sellers 11 days to cover their BBY’s short positions. The short interest to Best Buy Incorporated’s float is 11.87%.

The stock increased 0.85% or $0.52 during the last trading session, reaching $61.49. About 4.01M shares traded. Best Buy Co., Inc. (NYSE:BBY) has risen 62.80% since December 8, 2016 and is uptrending. It has outperformed by 46.10% 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 $17.98 billion. The firm operates through two reportable divisions, Domestic and International. It has a 15.45 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 27 analysts covering Best Buy Co (NYSE:BBY), 10 have Buy rating, 4 Sell and 13 Hold. Therefore 37% are positive. Best Buy Co has $72.0 highest and $20.50 lowest target. $49.03’s average target is -20.26% below currents $61.49 stock price. Best Buy Co had 92 analyst reports since August 10, 2015 according to SRatingsIntel. The stock has “Buy” rating by SunTrust on Monday, October 16. The stock of Best Buy Co., Inc. (NYSE:BBY) has “Underperform” rating given on Friday, January 15 by Wedbush. On Monday, January 18 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Oppenheimer maintained the shares of BBY in report on Friday, May 26 with “Hold” rating. The firm earned “Buy” rating on Tuesday, October 24 by Loop Capital Markets. The rating was maintained by RBC Capital Markets with “Hold” on Wednesday, September 20. The firm earned “Neutral” rating on Monday, August 17 by Wedbush. The rating was upgraded by Zacks on Thursday, August 27 to “Hold”. The stock of Best Buy Co., Inc. (NYSE:BBY) earned “Underperform” rating by Wedbush on Friday, November 18. The rating was upgraded by Piper Jaffray on Monday, August 24 to “Overweight”.

More notable recent Best Buy Co., Inc. (NYSE:BBY) news were published by: Nasdaq.com which released: “Best Buy Co Inc. Q3 Profit Climbs 23%” on November 16, 2017, also Investorplace.com with their article: “Best Buy Co Inc Stock Has Finally Made Its Turnaround Move” published on December 01, 2017, Usnews.com published: “Best Buy Flies High With Holiday Sales” on November 28, 2017. More interesting news about Best Buy Co., Inc. (NYSE:BBY) were released by: Nasdaq.com and their article: “Earnings Reaction History: Best Buy Co. Inc., 75.0% Follow-Through Indicator …” published on November 16, 2017 as well as Investorplace.com‘s news article titled: “Best Buy Co Inc Stock Is Still Worth Shopping For” with publication date: November 28, 2017.

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