Could Best Buy Co Inc Lose Strenght? Option Traders Don’t Think So

 Could Best Buy Co Inc Lose Strenght? Option Traders Don't Think So

In today’s session Best Buy Co Inc (BBY) registered an unusually high (6,247) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious BBY increase. With 6,247 contracts traded and 11504 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: BBY161118C00039000 closed last at: $2.51 or 2.9% up. About 2.47M shares traded hands. Best Buy Co Inc (NYSE:BBY) has risen 17.52% since March 14, 2016 and is uptrending. It has outperformed by 11.91% the S&P500.

Best Buy Co Inc (NYSE:BBY) Ratings Coverage

Out of 18 analysts covering Best Buy Co (NYSE:BBY), 6 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 33% are positive. Best Buy Co has been the topic of 47 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Wednesday, May 25 by Deutsche Bank. RBC Capital Markets maintained it with “Sector Perform” rating and $32 target price in Friday, February 26 report. The rating was maintained by UBS with “Neutral” on Wednesday, August 26. The firm earned “Outperform” rating on Wednesday, August 24 by Telsey Advisory Group. As per Friday, January 15, the company rating was downgraded by Wedbush. The stock of Best Buy Co Inc (NYSE:BBY) earned “Neutral” rating by Citigroup on Wednesday, August 24. The rating was maintained by SunTrust on Wednesday, August 24 with “Buy”. The company was maintained on Friday, January 15 by RBC Capital Markets. The rating was upgraded by TheStreet on Thursday, August 27 to “Hold”. RBC Capital Markets maintained it with “Sector Perform” rating and $42 target price in Wednesday, August 24 report.

According to Zacks Investment Research, “Best Buy operates in a single business segment, selling personal computers and other home office products, consumer electronics, entertainment software, major appliances and related accessories principally through its retail stores. They operate retail stores and commercial Websites under the brand names Best Buy, Media Play, On Cue, Sam Goody, Suncoast, Magnolia Hi-Fi and Future Shop. They also operate in three segments: Best Buy, Musicland and International.”

Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.38, from 0.69 in 2016Q1. The ratio improved, 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.
Moreover, Fincl Management has 0% invested in Best Buy Co Inc (NYSE:BBY) for 67 shares. Moreover, California Public Employees Retirement has 0.05% invested in Best Buy Co Inc (NYSE:BBY) for 992,818 shares. Flippin Bruce & Porter Inc accumulated 1.47% or 161,301 shares. Tower Research Cap Limited Liability Corporation (Trc) last reported 14,072 shares in the company. Credit Agricole S A holds 168,000 shares or 0.02% of its portfolio. Glg Limited Liability Com holds 0.04% or 16,020 shares in its portfolio. Pnc Finance Gp has 0% invested in the company for 21,567 shares. Quantbot L P accumulated 0.14% or 42,252 shares. State Board Of Administration Of Florida Retirement has 446,238 shares for 0.04% of their US portfolio. New York Life Trust Com accumulated 0.26% or 1,720 shares. Metropolitan Life Ny reported 146,862 shares or 0.03% of all its holdings. Livingston Group Inc Inc Asset (Operating As Southport Management) has 0.01% invested in the company for 566 shares. Ibm Retirement Fund, a New York-based fund reported 28,018 shares. Counsel Portfolio Incorporated holds 169,822 shares or 0.51% of its portfolio. Moreover, Pictet Asset Mgmt has 0.02% invested in Best Buy Co Inc (NYSE:BBY) for 168,980 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 5 selling transactions for $17.92 million net activity. $7.00 million worth of Best Buy Co Inc (NYSE:BBY) was sold by Ballard Shari L on Wednesday, August 31. Watson Mathew sold 1,363 shares worth $43,751. MOHAN RAJENDRA M also sold $8.53 million worth of Best Buy Co Inc (NYSE:BBY) shares. 59,893 shares were sold by Nelsen Keith J, worth $2.31 million on Wednesday, August 31.

Best Buy Co., Inc. is a provider of technology products, services and solutions. The company has a market cap of $12.36 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 13.07 P/E ratio. It operates through two divisions: Domestic and International.

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 recent Best Buy Co Inc (NYSE:BBY) news were published by: Profitconfidential.com which released: “Best Buy Co Inc: Best Buy Stock Could Hit $50 in 2017” on October 10, 2016. Also Benzinga.com published the news titled: “Impact From Samsung Issues Should Be Muted For Best Buy, GameStop” on October 12, 2016. 247Wallst.com‘s news article titled: “Best Buy Pushes Toy Sales as Holidays Approach” with publication date: October 16, 2016 was also an interesting one.

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