Shares of Overstock.com Inc (NASDAQ:OSTK) have been given an average recommendation of “Hold” by the six research firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.00.
OSTK has been the subject of several recent research reports. Maxim Group reaffirmed a “buy” rating on shares of Overstock.com in a report on Thursday, May 30th. BidaskClub lowered shares of Overstock.com from a “hold” rating to a “sell” rating in a report on Saturday, March 16th. DA Davidson cut their price target on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Overstock.com from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.
In related news, CEO Patrick Michael Byrne sold 407,055 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $10.29, for a total value of $4,188,595.95. Following the completion of the sale, the chief executive officer now owns 1,056,690 shares of the company’s stock, valued at approximately $10,873,340.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Paul Knab sold 2,500 shares of the business’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 sale, the insider now directly owns 15,812 shares of the company’s stock, valued at approximately $267,697.16. The disclosure for this sale can be found here. In the last three months, insiders purchased 70,000 shares of company stock valued at $771,000 and sold 910,305 shares valued at $10,789,683. 19.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OSTK. Morgan Stanley boosted its stake in Overstock.com by 51.2% during the 1st quarter. Morgan Stanley now owns 3,969,573 shares of the company’s stock worth $65,975,000 after purchasing an additional 1,344,499 shares during the last quarter. Contrarius Investment Management Ltd boosted its stake in Overstock.com by 353.3% during 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 last quarter. Toroso Investments LLC acquired a new stake in Overstock.com during the 4th quarter worth $3,473,000. Schonfeld Strategic Advisors LLC boosted its stake in Overstock.com by 190.4% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 362,700 shares of the company’s stock worth $6,028,000 after purchasing an additional 237,800 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Overstock.com by 8.6% during 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 last quarter. 60.67% of the stock is currently owned by institutional investors.
Shares of NASDAQ:OSTK traded down $0.38 during trading on Friday, hitting $9.48. 984,013 shares of the stock traded hands, compared to its average volume of 1,401,748. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.85. The firm has a market cap of $347.82 million, a price-to-earnings ratio of -1.53 and a beta of 2.09. Overstock.com has a 52-week low of $8.96 and a 52-week high of $48.00.
Overstock.com (NASDAQ:OSTK) last posted its earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.25). The firm had revenue of $367.73 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 17.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.74) earnings per share. On average, sell-side analysts anticipate that Overstock.com will post -3.31 earnings per share for the current fiscal year.
Overstock.com Company Profile
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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