New Mountain Vantage Advisers Cut Holding in Western Gas Partners LP (Call) (WES) by $35.86 Million as Share Price Declined; Moon Capital Management LP Lowered Its Bed Bath & Beyond (Call) (BBBY) Stake as Market Valuation Declined

April 21, 2018 - By Clifton Ray

Bed Bath & Beyond Inc. (NASDAQ:BBBY) Logo

Steven B. Klinsky decreased its stake in Western Gas Partners Lp (Call) (WES) by 89.13% based on its latest 2017Q4 regulatory filing with the SEC. New Mountain Vantage Advisers Llc sold 747,154 shares as the company’s stock declined 12.87% with the market. The hedge fund run by Steven B. Klinsky held 91,100 shares of the public utilities company at the end of 2017Q4, valued at $4.38 million, down from 838,254 at the end of the previous reported quarter. New Mountain Vantage Advisers Llc who had been investing in Western Gas Partners Lp (Call) for a number of months, seems to be less bullish one the $7.19B market cap company. The stock decreased 0.04% or $0.02 during the last trading session, reaching $46.33. About 329,311 shares traded. Western Gas Partners, LP (NYSE:WES) has declined 29.39% since April 21, 2017 and is downtrending. It has underperformed by 40.94% the S&P500.

John W. Moon decreased its stake in Bed Bath & Beyond Inc (Call) (BBBY) by 75% based on its latest 2017Q4 regulatory filing with the SEC. Moon Capital Management Lp sold 150,000 shares as the company’s stock declined 9.72% with the market. The hedge fund run by John W. Moon held 50,000 shares of the home furnishings company at the end of 2017Q4, valued at $1.10 million, down from 200,000 at the end of the previous reported quarter. Moon Capital Management Lp who had been investing in Bed Bath & Beyond Inc (Call) for a number of months, seems to be less bullish one the $2.44 billion market cap company. The stock decreased 3.16% or $0.56 during the last trading session, reaching $17.14. About 4.61 million shares traded or 6.57% up from the average. Bed Bath & Beyond Inc. (NASDAQ:BBBY) has declined 47.16% since April 21, 2017 and is downtrending. It has underperformed by 58.71% the S&P500.

Moon Capital Management Lp, which manages about $2.17 billion and $323.89M US Long portfolio, upped its stake in Adient Plc by 8,844 shares to 95,780 shares, valued at $7.54 million in 2017Q4, according to the filing. It also increased its holding in Gridsum Hldg Inc by 693,655 shares in the quarter, for a total of 1.31M shares, and has risen its stake in Evogene Ltd (NYSE:EVGN).

Analysts await Bed Bath & Beyond Inc. (NASDAQ:BBBY) to report earnings on June, 28. They expect $0.33 earnings per share, down 43.10% or $0.25 from last year’s $0.58 per share. BBBY’s profit will be $47.00 million for 12.98 P/E if the $0.33 EPS becomes a reality. After $1.48 actual earnings per share reported by Bed Bath & Beyond Inc. for the previous quarter, Wall Street now forecasts -77.70% negative EPS growth.

Among 32 analysts covering Bed Bath & Beyond (NASDAQ:BBBY), 2 have Buy rating, 10 Sell and 20 Hold. Therefore 6% are positive. Bed Bath & Beyond had 83 analyst reports since September 21, 2015 according to SRatingsIntel. As per Friday, September 25, the company rating was maintained by Cantor Fitzgerald. The stock of Bed Bath & Beyond Inc. (NASDAQ:BBBY) has “Sell” rating given on Thursday, September 22 by Citigroup. KeyBanc Capital Markets maintained it with “Sell” rating and $21.0 target in Wednesday, September 20 report. Telsey Advisory Group upgraded the stock to “Market Perform” rating in Friday, September 25 report. The rating was initiated by Topeka Capital Markets with “Sell” on Tuesday, May 24. The firm earned “Hold” rating on Friday, May 12 by Loop Capital. The stock of Bed Bath & Beyond Inc. (NASDAQ:BBBY) has “Neutral” rating given on Friday, September 25 by Credit Agricole. The rating was maintained by KeyBanc Capital Markets with “Underweight” on Wednesday, November 15. The stock has “Hold” rating by Jefferies on Thursday, June 22. The stock of Bed Bath & Beyond Inc. (NASDAQ:BBBY) earned “Sell” rating by Citigroup on Wednesday, January 27.

Investors sentiment decreased to 0.74 in 2017 Q4. Its down 0.07, from 0.81 in 2017Q3. It is negative, as 71 investors sold BBBY shares while 105 reduced holdings. 56 funds opened positions while 75 raised stakes. 125.01 million shares or 3.64% less from 129.74 million shares in 2017Q3 were reported. Lsv Asset holds 0.05% or 1.30 million shares in its portfolio. The Georgia-based Atlantic Tru Group Limited Company has invested 0% in Bed Bath & Beyond Inc. (NASDAQ:BBBY). 43 were accumulated by Regions Financial Corp. Ameritas Inv Prtn Inc has 43,300 shares for 0.04% of their portfolio. Mutual Of America Cap Mngmt Ltd Co holds 0.04% or 114,501 shares in its portfolio. Dimensional Fund Ltd Partnership has 5.03 million shares. Advsr Asset stated it has 0% of its portfolio in Bed Bath & Beyond Inc. (NASDAQ:BBBY). Fmr Ltd Limited Liability Company accumulated 15.27 million shares or 0.04% of the stock. Trexquant LP holds 209,089 shares. Hotchkis & Wiley Cap Mgmt Lc, a California-based fund reported 8.68M shares. Moreover, State Street has 0.01% invested in Bed Bath & Beyond Inc. (NASDAQ:BBBY) for 6.52M shares. 284,154 are held by Citigroup. Hightower Ltd Liability Corporation stated it has 39,118 shares or 0.01% of all its holdings. Apg Asset Management Nv invested 0.06% of its portfolio in Bed Bath & Beyond Inc. (NASDAQ:BBBY). Franklin Resources owns 0% invested in Bed Bath & Beyond Inc. (NASDAQ:BBBY) for 17,487 shares.

Analysts await Western Gas Partners, LP (NYSE:WES) to report earnings on May, 1. They expect $0.47 EPS, up 4,600.00% or $0.46 from last year’s $0.01 per share. WES’s profit will be $72.94 million for 24.64 P/E if the $0.47 EPS becomes a reality. After $0.39 actual EPS reported by Western Gas Partners, LP for the previous quarter, Wall Street now forecasts 20.51% EPS growth.

Investors sentiment decreased to 0.75 in 2017 Q4. Its down 0.77, from 1.52 in 2017Q3. It fall, as 24 investors sold WES shares while 72 reduced holdings. 24 funds opened positions while 48 raised stakes. 90.11 million shares or 0.38% less from 90.45 million shares in 2017Q3 were reported. Hall Laurie J Trustee has invested 0.03% of its portfolio in Western Gas Partners, LP (NYSE:WES). Kayne Anderson Cap Advisors Limited Partnership has 8.88 million shares. Cushing Asset Management Lp holds 1.16M shares or 1.69% of its portfolio. Kings Point Capital Mngmt invested in 0% or 400 shares. California Employees Retirement System stated it has 0.01% in Western Gas Partners, LP (NYSE:WES). Royal Retail Bank Of Canada owns 35,564 shares for 0% of their portfolio. Homrich And Berg holds 12,673 shares. Tower Research Capital Ltd Liability (Trc) invested in 765 shares. Keybank National Association Oh, a Ohio-based fund reported 8,385 shares. Creative Planning holds 355,703 shares. Yorkville Cap Mgmt Limited accumulated 27,358 shares. 8.33 million were reported by Alps Advsr. Northern Tru Corporation invested 0% in Western Gas Partners, LP (NYSE:WES). Geode Capital Limited Liability has 0% invested in Western Gas Partners, LP (NYSE:WES) for 4,659 shares. Blackrock reported 669,782 shares stake.

New Mountain Vantage Advisers Llc, which manages about $2.44 billion and $1.32 billion US Long portfolio, upped its stake in Spx Corp (SPW) by 267,927 shares to 467,511 shares, valued at $14.68M in 2017Q4, according to the filing. It also increased its holding in Liberty Interactive Corp by 207,105 shares in the quarter, for a total of 770,157 shares, and has risen its stake in Oaktree Cap Group Llc (NYSE:OAK).

Bed Bath & Beyond Inc. (NASDAQ:BBBY) Institutional Positions Chart

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