Overstock.com, Inc. (NASDAQ:OSTK – Get Free Report) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $14.93, but opened at $15.94. Overstock.com shares last traded at $15.52, with a volume of 477,602 shares trading hands.
Specifically, Director Marcus Lemonis bought 33,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were acquired at an average cost of $14.94 per share, for a total transaction of $493,020.00. Following the acquisition, the director now directly owns 33,000 shares of the company’s stock, valued at $493,020. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director William Benjamin Nettles, Jr. bought 2,052 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $24.68 per share, with a total value of $50,643.36. Following the completion of the transaction, the director now directly owns 10,385 shares in the company, valued at approximately $256,301.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marcus Lemonis bought 33,000 shares of the company’s stock in a transaction dated Wednesday, October 4th. The stock was purchased at an average cost of $14.94 per share, for a total transaction of $493,020.00. Following the completion of the transaction, the director now owns 33,000 shares of the company’s stock, valued at $493,020. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on OSTK. Bank of America dropped their target price on shares of Overstock.com from $39.00 to $24.00 in a research report on Thursday, September 7th. DA Davidson lowered their price objective on shares of Overstock.com from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. BTIG Research initiated coverage on shares of Overstock.com in a research report on Thursday, September 21st. They set a “neutral” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Overstock.com in a research report on Wednesday, September 6th. Finally, StockNews.com initiated coverage on shares of Overstock.com in a research report on Thursday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.29.
Overstock.com Price Performance
The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $710.54 million, a P/E ratio of -5.22 and a beta of 3.69. The company’s 50-day simple moving average is $24.81 and its 200 day simple moving average is $23.19.
Overstock.com (NASDAQ:OSTK – Get Free Report) last posted its earnings results on Thursday, July 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Overstock.com had a negative return on equity of 0.25% and a negative net margin of 8.17%. The firm had revenue of $422.20 million during the quarter, compared to analyst estimates of $409.64 million. During the same period in the previous year, the company earned $0.19 EPS. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. As a group, sell-side analysts expect that Overstock.com, Inc. will post -1.38 earnings per share for the current fiscal year.
Institutional Trading of Overstock.com
Large investors have recently modified their holdings of the company. Covestor Ltd boosted its holdings in Overstock.com by 48.1% during the second quarter. Covestor Ltd now owns 994 shares of the company’s stock valued at $33,000 after acquiring an additional 323 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Overstock.com by 10.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,727 shares of the company’s stock valued at $121,000 after purchasing an additional 356 shares during the period. Panagora Asset Management Inc. grew its holdings in Overstock.com by 1.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 27,298 shares of the company’s stock valued at $889,000 after buying an additional 420 shares during the last quarter. Rhumbline Advisers increased its position in Overstock.com by 1.0% in the 1st quarter. Rhumbline Advisers now owns 44,727 shares of the company’s stock worth $1,968,000 after buying an additional 430 shares during the period. Finally, FMR LLC lifted its holdings in shares of Overstock.com by 40.0% during the first quarter. FMR LLC now owns 1,758 shares of the company’s stock worth $36,000 after buying an additional 502 shares during the last quarter. 71.35% of the stock is owned by institutional investors.
About Overstock.com
Overstock.com, Inc operates as an online retailer in the United States. It offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. The company provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.
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