Overstock.com (NASDAQ:OSTK) Trading Down 5.6%

Overstock.com Inc (NASDAQ:OSTK)’s share price dropped 5.6% during trading on Thursday . The company traded as low as $20.82 and last traded at $21.27, approximately 4,653,950 shares were traded during mid-day trading. An increase of 41% from the average daily volume of 3,296,448 shares. The stock had previously closed at $22.52.

OSTK has been the topic of a number of research reports. BidaskClub upgraded Overstock.com from a “hold” rating to a “buy” rating in a report on Wednesday. Maxim Group initiated coverage on Overstock.com in a report on Tuesday, July 16th. They issued a “buy” rating and a $34.00 price objective on the stock. Zacks Investment Research upgraded Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. DA Davidson restated a “buy” rating and issued a $48.00 price objective on shares of Overstock.com in a report on Tuesday, July 16th. Finally, ValuEngine upgraded Overstock.com from a “sell” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $41.00.

The firm has a fifty day moving average price of $15.75. The stock has a market cap of $794.41 million, a P/E ratio of -3.40 and a beta of 2.39. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.85.

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

In other news, CEO Patrick Michael Byrne sold 407,055 shares of the stock in a transaction dated Thursday, May 16th. The stock was 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 in the company, valued at $10,873,340.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Tabacco, Jr. bought 25,000 shares of the stock in a transaction dated Friday, May 17th. The stock was bought at an average price of $10.48 per share, with a total value of $262,000.00. Following the purchase, the director now owns 66,033 shares of the company’s stock, valued at approximately $692,025.84. The disclosure for this purchase can be found here. In the last quarter, insiders sold 907,455 shares of company stock valued at $10,742,632. Insiders own 19.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY grew its stake in Overstock.com by 303.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock valued at $97,000 after purchasing an additional 5,392 shares in the last quarter. Investors Research Corp acquired a new stake in Overstock.com during the 1st quarter valued at approximately $28,000. Geode Capital Management LLC grew its stake in Overstock.com by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 255,410 shares of the company’s stock valued at $3,468,000 after purchasing an additional 40,314 shares in the last quarter. Northern Trust Corp grew its stake in Overstock.com by 6.5% during the 4th 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 grew its stake in Overstock.com by 12.8% during the 4th 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 60.69% of the company’s stock.

Overstock.com Company Profile (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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