Rafferty Asset Management LLC Increases Stake in Best Buy Co., Inc. – Insider Activity and Stock Performance
Are you interested in investing in Best Buy Co., Inc. (NYSE:BBY)? Well, you’re not alone. Rafferty Asset Management LLC recently increased its stake in the technology retailer by 10.8% during the fourth quarter, showing confidence in the company’s potential for growth. Additionally, several other hedge funds have also made changes to their positions in Best Buy, indicating a positive outlook on the stock.
In terms of insider activity, Todd G. Hartman, an insider at Best Buy, recently sold shares of the company’s stock, further highlighting the confidence insiders have in the company’s future performance. Chairman Richard M. Schulze also sold a significant number of shares, showing a strong belief in the company’s value.
When it comes to Best Buy’s stock performance, the company has shown resilience in the market, with a market capitalization of $19.02 billion and a strong financial standing. The recent quarterly earnings report exceeded analysts’ expectations, further solidifying Best Buy’s position in the market.
Moreover, Best Buy recently announced a quarterly dividend, providing additional value to shareholders. Analysts have set new price targets for the stock, with many giving positive ratings and outlooks for the company’s future performance.
Overall, Best Buy continues to be a strong player in the technology retail sector, with a diverse range of products and a solid financial foundation. If you’re considering investing in Best Buy, now might be a good time to take a closer look at the company’s potential for growth and value in the market.
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