BidaskClub Upgrades Overstock.com (NASDAQ:OSTK) to Hold

BidaskClub upgraded shares of Overstock.com (NASDAQ:OSTK) from a sell rating to a hold rating in a report published on Thursday, BidAskClub reports.

A number of other equities analysts have also commented on OSTK. Zacks Investment Research upgraded shares of General Moly from a sell rating to a hold rating in a report on Thursday. DA Davidson started coverage on shares of LYFT in a report on Tuesday, March 19th. They set a buy rating and a $75.00 price target on the stock. Maxim Group set a $9.00 price target on shares of Pareteum and gave the stock a buy rating in a report on Thursday, May 30th. Finally, ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. One research 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. The stock has an average rating of Hold and a consensus price target of $63.00.

Shares of NASDAQ:OSTK opened at $19.01 on Thursday. The business’s fifty day simple moving average is $11.83. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. Overstock.com has a 52 week low of $8.96 and a 52 week high of $48.00.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.25). The business had revenue of $367.73 million for the quarter, compared to analyst estimates of $360.91 million. Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. Overstock.com’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same quarter last year, the firm posted ($1.74) EPS. Equities analysts anticipate that Overstock.com will post -3.31 earnings per share for the current year.

In related news, CEO Patrick Michael Byrne sold 500,000 shares of the business’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 transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at $13,832,072.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph J. Tabacco, Jr. bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $10.48 per share, for a total transaction of $262,000.00. Following the acquisition, the director now owns 66,033 shares of the company’s stock, valued at $692,025.84. The disclosure for this purchase can be found here. 19.40% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY lifted its holdings in Overstock.com by 303.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock valued at $97,000 after buying an additional 5,392 shares during the period. Investors Research Corp acquired a new position in Overstock.com in the first quarter valued at $28,000. Geode Capital Management LLC lifted its holdings in Overstock.com by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 255,410 shares of the company’s stock valued at $3,468,000 after buying an additional 40,314 shares during the period. Northern Trust Corp increased its stake in Overstock.com by 6.5% in the fourth quarter. Northern Trust Corp now owns 300,519 shares of the company’s stock valued at $4,080,000 after purchasing an additional 18,240 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Overstock.com by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 92,489 shares of the company’s stock valued at $1,256,000 after purchasing an additional 10,519 shares in the last quarter. Institutional investors and hedge funds own 60.67% 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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