Raymond James & Associates lessened its position in shares of Overstock.com Inc (NASDAQ:OSTK) by 30.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,384 shares of the company’s stock after selling 2,770 shares during the period. Raymond James & Associates’ holdings in Overstock.com were worth $215,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its holdings in shares of Overstock.com by 93.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,744,410 shares of the company’s stock valued at $63,235,000 after acquiring an additional 843,959 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Overstock.com by 40.1% in the 2nd quarter. BlackRock Inc. now owns 1,543,190 shares of the company’s stock valued at $51,928,000 after acquiring an additional 442,091 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in shares of Overstock.com in the 2nd quarter valued at about $6,802,000. Tocqueville Asset Management L.P. grew its holdings in shares of Overstock.com by 48.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 100,485 shares of the company’s stock valued at $3,381,000 after acquiring an additional 33,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Overstock.com by 16.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 98,288 shares of the company’s stock valued at $3,308,000 after acquiring an additional 14,182 shares in the last quarter. Hedge funds and other institutional investors own 57.23% of the company’s stock.
In related news, SVP Carter Paul Lee sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $30.15, for a total value of $39,195.00. Following the completion of the sale, the senior vice president now directly owns 4,835 shares in the company, valued at approximately $145,775.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Paul Knab sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $39.75, for a total transaction of $79,500.00. Following the completion of the sale, the senior vice president now owns 6,689 shares of the company’s stock, valued at $265,887.75. The disclosure for this sale can be found here. Insiders sold a total of 927,102 shares of company stock valued at $23,964,391 over the last quarter. 28.90% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on OSTK shares. BidaskClub upgraded Overstock.com from a “sell” rating to a “hold” rating in a report on Saturday, July 7th. Zacks Investment Research cut Overstock.com from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. DA Davidson raised their price objective on Overstock.com from $90.00 to $112.00 and gave the company a “buy” rating in a report on Friday, August 10th. GARP Research started coverage on Overstock.com in a report on Thursday, September 6th. They issued a “neutral” rating for the company. Finally, ValuEngine cut Overstock.com from a “buy” rating to a “hold” rating in a report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $75.00.
Shares of NASDAQ OSTK opened at $22.08 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.85 and a debt-to-equity ratio of 0.02. Overstock.com Inc has a fifty-two week low of $18.99 and a fifty-two week high of $89.80.
Overstock.com (NASDAQ:OSTK) last issued its earnings results on Thursday, August 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.82) by ($1.38). Overstock.com had a negative net margin of 11.74% and a negative return on equity of 95.14%. The firm had revenue of $483.10 million during the quarter, compared to analyst estimates of $474.15 million. During the same quarter last year, the business posted ($0.29) earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts predict that Overstock.com Inc will post -5.43 EPS for the current year.
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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