Overstock.com (OSTK) Reaches New 52-Week Low at $24.27

Overstock.com Inc (NASDAQ:OSTK)’s share price hit a new 52-week low on Thursday . The stock traded as low as $24.27 and last traded at $25.04, with a volume of 73890 shares trading hands. The stock had previously closed at $25.63.

Several brokerages recently weighed in on OSTK. BidaskClub upgraded Overstock.com from a “sell” rating to a “hold” rating in a research note on Tuesday, August 14th. DA Davidson lifted their price target on Overstock.com to $103.00 and gave the company a “buy” rating in a research note on Tuesday, July 3rd. Maxim Group began coverage on Overstock.com in a research note on Monday, September 10th. They issued a “buy” rating and a $75.00 price target for the company. Zacks Investment Research lowered Overstock.com from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Finally, ValuEngine lowered Overstock.com from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $75.00.

The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $803.57 million, a P/E ratio of -14.59 and a beta of 1.39.

Overstock.com (NASDAQ:OSTK) last posted its quarterly earnings data on Thursday, August 9th. The company reported ($2.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by ($1.38). Overstock.com had a negative return on equity of 95.14% and a negative net margin of 11.74%. The firm had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $474.15 million. During the same quarter last year, the firm posted ($0.29) earnings per share. Overstock.com’s quarterly revenue was up 11.8% on a year-over-year basis. On average, analysts expect that Overstock.com Inc will post -5.43 EPS for the current year.

In other Overstock.com news, CEO Patrick Byrne sold 774,303 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $25.83, for a total transaction of $20,000,246.49. Following the completion of the sale, the chief executive officer now directly owns 1,050,023 shares in the company, valued at approximately $27,122,094.09. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Carter Paul Lee sold 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $30.15, for a total value of $39,195.00. Following the sale, the senior vice president now owns 4,835 shares of the company’s stock, valued at $145,775.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 929,102 shares of company stock valued at $24,050,091. 24.20% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. Suntrust Banks Inc. acquired a new position in shares of Overstock.com during the 1st quarter worth approximately $207,000. Vident Investment Advisory LLC acquired a new position in shares of Overstock.com during the 2nd quarter worth approximately $240,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Overstock.com by 30.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $241,000 after purchasing an additional 1,677 shares during the last quarter. Verition Fund Management LLC acquired a new position in shares of Overstock.com during the 2nd quarter worth approximately $274,000. Finally, LPL Financial LLC boosted its holdings in shares of Overstock.com by 150.4% during the 1st quarter. LPL Financial LLC now owns 8,139 shares of the company’s stock worth $295,000 after purchasing an additional 4,889 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Overstock.com (NASDAQ:OSTK)

Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; and other products.

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