Shares of Overstock.com Inc (NASDAQ:OSTK) gapped up prior to trading on Wednesday . The stock had previously closed at $12.97, but opened at $12.89. Overstock.com shares last traded at $12.34, with a volume of 38825 shares trading hands.
A number of research firms recently commented on OSTK. BidaskClub upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. DA Davidson lowered their price objective on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Overstock.com presently has a consensus rating of “Hold” and a consensus target price of $54.67.
The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The stock has a market cap of $453.35 million, a P/E ratio of -1.81 and a beta of 1.92.
Overstock.com (NASDAQ:OSTK) last released its quarterly earnings data on Thursday, May 9th. The company reported ($1.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.93) by ($0.25). The firm had revenue of $367.73 million during the quarter, compared to the consensus estimate of $360.91 million. Overstock.com had a negative net margin of 11.15% and a negative return on equity of 85.28%. Overstock.com’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.74) EPS.
In related news, CEO Patrick Michael Byrne sold 500,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.09, for a total value of $6,545,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,056,690 shares of the company’s stock, valued at approximately $13,832,072.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Paul Knab sold 2,500 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $16.93, for a total transaction of $42,325.00. Following the completion of the transaction, the insider now directly owns 15,812 shares of the company’s stock, valued at $267,697.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 503,250 shares of company stock valued at $6,601,088. Company insiders own 19.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Overstock.com by 8.6% in the 4th quarter. BlackRock Inc. now owns 1,619,841 shares of the company’s stock worth $22,000,000 after purchasing an additional 128,649 shares during the period. State of New Jersey Common Pension Fund D acquired a new position in Overstock.com in the 4th quarter worth $13,580,000. Vanguard Group Inc boosted its stake in Overstock.com by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 940,524 shares of the company’s stock worth $26,052,000 after purchasing an additional 17,878 shares during the period. Vanguard Group Inc. boosted its stake in Overstock.com by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 940,524 shares of the company’s stock worth $26,052,000 after purchasing an additional 17,878 shares during the period. Finally, Contrarius Investment Management Ltd boosted its stake in Overstock.com by 353.3% in the 4th quarter. Contrarius Investment Management Ltd now owns 929,328 shares of the company’s stock worth $12,620,000 after purchasing an additional 724,330 shares during the period. 61.31% of the stock is owned by hedge funds and other institutional investors.
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About Overstock.com (NASDAQ:OSTK)
Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.
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