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Best Buy Earnings Preview: Insider and Hedge Fund Activity

Best Buy is set to release quarterly earnings soon, with analysts projecting a revenue of $13.84 billion and EPS of $2.42. Recent insider selling and mixed hedge fund activity might impact investor sentiment.

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AI Rating:   5
Earnings Per Share (EPS)
The report notes that Best Buy is expected to report an EPS of $2.42 for the upcoming quarter. This figure will be critical for investors as it serves as a key indicator of profitability and may influence stock prices upon release.
Revenue Growth
Analysts expect Best Buy to report revenue of $13,839,260,481. Meeting or exceeding this expectation will likely have a positive impact on stock prices, while a failure to do so might lead to declines.
Insider Trading Activity
The recent insider trading activity shows that there have been 5 sales and no purchases by Best Buy executives. This typically signals lack of confidence in the company's short-term outlook, which could negatively affect stock performance.
The CEO, Corie S. Barry, sold 79,829 shares for approximately $7,715,952, and the CFO sold 69,166 shares for around $6,048,925. Such selling could suggest that insiders do not foresee a positive trend ahead, impacting investor sentiment negatively.
Hedge Fund Activity
In the latest quarter, 416 institutional investors added shares, while 502 decreased their positions. The large number of decreased positions, particularly by significant players like Ninety One UK Ltd and Alyeska Investment Group, might indicate a bearish sentiment among major investors, which may affect stock prices adversely.
Amidst this mixed institutional investor activity, the addition of shares by firms such as BlackRock and State Street could act as a counterbalance, providing some support to the stock. Overall, this situation displays a divided outlook among investors, highlighting the uncertainties surrounding Best Buy's future performance.
Stocks:  BBY