Overstock.com (NASDAQ:OSTK) Shares Gap Down to $21.27

Overstock.com Inc (NASDAQ:OSTK) shares gapped down prior to trading on Friday . The stock had previously closed at $21.79, but opened at $21.27. Overstock.com shares last traded at $21.13, with a volume of 2,504,863 shares.

Several research firms have recently weighed in on OSTK. Zacks Investment Research raised shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. DA Davidson reissued a “buy” rating and issued a $48.00 target price on shares of Overstock.com in a research report on Tuesday, July 16th. Maxim Group began coverage on shares of Overstock.com in a research report on Tuesday, July 16th. They issued a “buy” rating and a $34.00 target price for the company. BidaskClub raised shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, ValuEngine raised shares of 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 issued a buy rating to the company’s stock. Overstock.com currently has an average rating of “Buy” and a consensus target price of $41.00.

The firm has a 50-day moving average price of $15.75. The company has a market capitalization of $750.32 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 quick ratio of 0.85 and a current ratio of 0.92.

Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($1.18) earnings per share 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 business had revenue of $367.73 million for the quarter, compared to the consensus estimate of $360.91 million. During the same period in the prior year, the company earned ($1.74) EPS. Overstock.com’s quarterly revenue was down 17.4% on a year-over-year basis. As a group, analysts forecast that Overstock.com Inc will post -3.31 EPS for the current year.

In related news, CEO Patrick Michael Byrne sold 500,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.09, for a total transaction of $6,545,000.00. Following the completion of the sale, the chief executive officer now owns 1,056,690 shares of the company’s stock, valued at approximately $13,832,072.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph J. Tabacco, Jr. acquired 25,000 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $10.48 per share, with a total value of $262,000.00. Following the transaction, the director now owns 66,033 shares in the company, valued at $692,025.84. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 907,455 shares of company stock valued at $10,742,632. Insiders own 19.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Investors Research Corp bought a new stake in shares of Overstock.com during the 1st quarter valued at about $28,000. Equitec Specialists LLC bought a new stake in shares of Overstock.com during the 2nd quarter valued at about $42,000. TRUE Private Wealth Advisors bought a new stake in shares of Overstock.com during the 2nd quarter valued at about $44,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Overstock.com during the 2nd quarter valued at about $45,000. Finally, Advisor Group Inc. grew its position in shares of Overstock.com by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,162 shares of the company’s stock valued at $56,000 after buying an additional 754 shares during the last quarter. 60.69% of the stock is owned by institutional investors and hedge funds.

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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