Insider Trading Report: Bed Bath & Beyond (BBBY)

Gustavo Arnal, CFO of Bed Bath & Beyond (BBBY), recently bought 12,500 shares. The buy increased his stake by just over 4 percent, and came to a total purchase price of just over $255,000.

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  • That buy came just a few days after two different directors bought shares. One picked up 12,500 shares, paying nearly $250,000, and another bought 25,000 shares across two days. The last insider sales occurred back in July, when shares were trading more than 30 percent higher than their current price.

    Overall, company insiders own 1.6 percent of shares.

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    The retail chain’s shares are up about 9 percent for the year, following a bigger move higher in 2020 and a few big spikes higher in January and early June.

    The company has been working to streamline its operations, expand online offerings, and move back to profitability.

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  • Action to take: The company could be a surprise retail winner this holiday season, and shares are attractively valued at 13 times forward earnings. Shares don’t currently pay a dividend, but have in the past.

    For traders, the recent insider buy and trend higher could lead to a steady rally in shares, or a spike higher in prices like the two that have already occurred in the past year.

    The February $30 calls, last going for about $2.75, strike a balance between a slow-and-steady rise and a big spike higher. In either event, traders should look for any big jump in shares in the coming months to take profits.

     

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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