Best Buy Co. (BBY): The stock had negative money flow to the tune of ($2.9 million) on Tuesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $7.54 million, whereas, the outflow of money on downticks was $10.44 million and the ratio between the two was 0.72. The block trade had a negative net money flow of ($2.13 million). On the other hand, downticks amounted to $2.13 million of the traded value, which shows distribution in the stock by traders. Best Buy Co. (BBY) closed with marginal gains of 10 cents to end the day at $39.12, an increase of 0.26% over the previous days close. The stock recorded -0.91% for the week.
Also, Equity Analysts at the Brokerage Firm, UBS, maintains their rating on the shares of Best Buy Co. (NYSE:BBY). UBS has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $38 per share from a prior target of $33. The rating by the firm was issued on August 24, 2016.
Best Buy Co., Inc. has dropped 0.84% in the last five trading days, however, the shares have posted positive gains of 16.22% in the last 4 weeks. Best Buy Co., Inc. is up 21.87% in the last 3-month period. Year-to-Date the stock performance stands at 31.83%.
Best Buy Co. (NYSE:BBY): The stock opened at $38.97 on Tuesday but the bulls could not build on the opening and the stock topped out at $39.31 for the day. The stock traded down to $38.90 during the day, due to lack of any buying support eventually closed down at $38.90 with a loss of -0.31% for the day. The stock had closed at $39.02 on the previous day. The total traded volume was 3,772,898 shares.
In a related news,The director officer (Chairman & CEO) of Best Buy Co Inc, Joly Hubert sold 398,000 shares at $32.24 on June 2, 2016. The Insider selling transaction had a total value worth of $12,831,520. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Best Buy Co., Inc. is a provider of technology products, services and solutions. The Company offers service to the consumers, small business owners and educators, who visit its stores, engage with Geek Squad agents or use its Websites or mobile applications. It has retail and online operations in the United States, Canada and Mexico. It operates through two segments: Domestic and International. The Domestic segment consists of all operations within the United States and its territories, operating e-commerce, retail store and call center operations under a range of brand names, including, Best Buy (bestbuy.com), Best Buy Mobile, Geek Squad, Magnolia Audio Video and Pacific Sales. The International segment consists of all operations outside the United States and its territories. In addition, the Company operates Magnolia Home Theater, Magnolia Design Center and Pacific Kitchen and Home store-within-a-store experiences in the United States Best Buy stores.