BidaskClub upgraded shares of Overstock.com (NASDAQ:OSTK) from a hold rating to a buy rating in a report issued on Wednesday morning, BidAskClub reports.
Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Overstock.com from a sell rating to a hold rating in a research report on Thursday, July 11th. Maxim Group started coverage on Overstock.com in a research report on Tuesday, July 16th. They issued a buy rating and a $34.00 price target for the company. DA Davidson restated a buy rating and issued a $48.00 price target on shares of Overstock.com in a research report on Tuesday, July 16th. Finally, ValuEngine upgraded Overstock.com from a sell rating to a hold rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $41.00.
OSTK traded down $0.14 during midday trading on Wednesday, reaching $21.13. The company had a trading volume of 2,561,022 shares, compared to its average volume of 7,013,156. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $15.75. Overstock.com has a 1 year low of $8.96 and a 1 year 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 company had revenue of $367.73 million during the quarter, compared to analysts’ expectations of $360.91 million. Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. The business’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.74) EPS. On average, equities analysts anticipate that Overstock.com will post -3.31 earnings per share for the current fiscal year.
In other news, CEO Patrick Michael Byrne sold 500,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.09, for a total value of $6,545,000.00. Following the completion of the transaction, the chief executive officer now owns 1,056,690 shares of the company’s stock, valued at $13,832,072.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $10.45 per share, with a total value of $418,000.00. Following the purchase, the director now owns 66,033 shares of the company’s stock, valued at $690,044.85. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 907,455 shares of company stock valued at $10,742,632. Corporate insiders own 19.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY boosted its stake in shares of Overstock.com by 303.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $97,000 after acquiring an additional 5,392 shares during the period. Investors Research Corp bought a new position in shares of Overstock.com in the first quarter worth about $28,000. Geode Capital Management LLC boosted its stake in shares of Overstock.com by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 255,410 shares of the company’s stock worth $3,468,000 after acquiring an additional 40,314 shares during the period. Northern Trust Corp boosted its stake in shares of Overstock.com by 6.5% in the fourth quarter. Northern Trust Corp now owns 300,519 shares of the company’s stock worth $4,080,000 after acquiring an additional 18,240 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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 worth $1,256,000 after acquiring an additional 10,519 shares during the period. 60.69% of the stock is owned by hedge funds and other institutional investors.
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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