Overstock.com (NASDAQ:OSTK) Upgraded to “Buy” at ValuEngine

ValuEngine upgraded shares of Overstock.com (NASDAQ:OSTK) from a hold rating to a buy rating in a research note released on Saturday, ValuEngine reports.

Several other brokerages have also recently commented on OSTK. DA Davidson reiterated a buy rating and set a $48.00 price target on shares of Overstock.com in a research report on Tuesday, July 16th. Maxim Group reiterated a buy rating and set a $40.00 price target (up previously from $34.00) on shares of Overstock.com in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Overstock.com from a sell rating to a hold rating in a research report on Thursday, July 11th. Finally, BidaskClub upgraded shares of Overstock.com from a hold rating to a buy rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $44.00.

Shares of NASDAQ:OSTK opened at $20.58 on Friday. Overstock.com has a one year low of $8.96 and a one year high of $36.00. The business’s 50 day simple moving average is $18.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 0.92. The firm has a market cap of $888.60 million, a PE ratio of -3.31 and a beta of 2.40.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.23. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 64.85%. The company had revenue of $373.70 million during the quarter, compared to analysts’ expectations of $376.66 million. During the same quarter in the previous year, the company earned ($2.20) EPS. Overstock.com’s revenue was down 22.6% on a year-over-year basis. On average, sell-side analysts anticipate that Overstock.com will post -3.31 EPS for the current year.

In related news, CEO Patrick Michael Byrne sold 407,055 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $10.29, for a total transaction of $4,188,595.95. Following the completion of the transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at $10,873,340.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were purchased at an average price of $10.45 per share, with a total value of $418,000.00. Following the acquisition, the director now owns 66,033 shares of the company’s stock, valued at approximately $690,044.85. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 407,555 shares of company stock valued at $4,199,823. Corporate insiders own 19.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of OSTK. BlackRock Inc. grew its holdings in Overstock.com by 17.5% during the second quarter. BlackRock Inc. now owns 1,855,395 shares of the company’s stock valued at $25,234,000 after purchasing an additional 275,844 shares during the period. SG Americas Securities LLC grew its holdings in Overstock.com by 374.3% during the second quarter. SG Americas Securities LLC now owns 201,541 shares of the company’s stock valued at $2,741,000 after purchasing an additional 159,049 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Overstock.com by 43.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 230,810 shares of the company’s stock valued at $3,140,000 after purchasing an additional 70,251 shares during the period. Trellus Management Company LLC grew its holdings in Overstock.com by 260.0% during the second quarter. Trellus Management Company LLC now owns 90,000 shares of the company’s stock valued at $1,224,000 after purchasing an additional 65,000 shares during the period. Finally, Balter Liquid Alternatives LLC grew its holdings in Overstock.com by 218.9% during the second quarter. Balter Liquid Alternatives LLC now owns 72,466 shares of the company’s stock valued at $986,000 after purchasing an additional 49,740 shares during the period. Hedge funds and other institutional investors own 61.58% of the company’s stock.

About Overstock.com

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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