A number of other research firms have also issued reports on OSTK. Zacks Investment Research upgraded shares of Overstock.com from a sell rating to a hold rating in a report on Thursday, July 11th. Maxim Group restated a buy rating and set a $40.00 price target (up previously from $34.00) on shares of Overstock.com in a report on Friday. DA Davidson restated a buy rating and set a $48.00 price target on shares of Overstock.com in a report on Tuesday, July 16th. Finally, BidaskClub upgraded shares of Overstock.com from a hold rating to a buy rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $44.00.
OSTK stock opened at $24.97 on Friday. Overstock.com has a 52-week low of $8.96 and a 52-week high of $42.20. The company’s 50 day moving average price is $18.29. 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 capitalization of $908.81 million, a price-to-earnings ratio of -4.02 and a beta of 2.40.
Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.92) by $0.23. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 64.85%. The business had revenue of $373.70 million for the quarter, compared to analyst estimates of $376.66 million. During the same quarter in the previous year, the business earned ($2.20) earnings per share. The firm’s revenue was down 22.6% compared to the same quarter last year. Equities research analysts predict that Overstock.com will post -3.31 EPS for the current fiscal year.
In other Overstock.com news, CEO Patrick Michael Byrne sold 407,055 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at approximately $10,873,340.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was bought at an average price of $10.45 per share, for a total transaction of $418,000.00. Following the purchase, the director now owns 66,033 shares in the company, valued at approximately $690,044.85. The disclosure for this purchase can be found here. In the last quarter, insiders sold 407,555 shares of company stock worth $4,199,823. Company insiders own 19.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in OSTK. SG Americas Securities LLC increased its stake in Overstock.com by 374.3% in the 2nd quarter. SG Americas Securities LLC now owns 201,541 shares of the company’s stock valued at $2,741,000 after buying an additional 159,049 shares during the period. BlackRock Inc. increased 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 valued at $22,000,000 after buying an additional 128,649 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Overstock.com by 43.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 230,810 shares of the company’s stock valued at $3,140,000 after buying an additional 70,251 shares during the period. Trellus Management Company LLC increased its stake in Overstock.com by 260.0% in the 2nd quarter. Trellus Management Company LLC now owns 90,000 shares of the company’s stock valued at $1,224,000 after buying an additional 65,000 shares during the period. Finally, Balter Liquid Alternatives LLC increased its stake in Overstock.com by 218.9% in the 2nd quarter. Balter Liquid Alternatives LLC now owns 72,466 shares of the company’s stock valued at $986,000 after buying an additional 49,740 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.
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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