Overstock.com (OSTK) Trading 9% Higher

Overstock.com, Inc. (NASDAQ:OSTK) shares traded up 9% during mid-day trading on Tuesday . The company traded as high as $47.65 and last traded at $46.10. 4,309,000 shares changed hands during mid-day trading, an increase of 478% from the average session volume of 745,133 shares. The stock had previously closed at $42.30.

A number of research analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of Overstock.com from $57.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. They noted that the move was a valuation call. BidaskClub upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th.

The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.06. The business had revenue of $424.00 million during the quarter, compared to the consensus estimate of $452.60 million. Overstock.com had a negative net margin of 0.61% and a negative return on equity of 4.95%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. equities analysts forecast that Overstock.com, Inc. will post -0.47 EPS for the current year.

In related news, Director Joseph J. Tabacco, Jr. sold 2,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $51.95, for a total value of $103,900.00. Following the completion of the sale, the director now owns 42,099 shares in the company, valued at approximately $2,187,043.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Vikram Raghavan sold 624 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $52.00, for a total transaction of $32,448.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,886 shares of company stock valued at $1,580,521 in the last 90 days. Insiders own 28.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in Overstock.com in the 3rd quarter valued at $215,000. Cubist Systematic Strategies LLC acquired a new position in Overstock.com in the 3rd quarter valued at $448,000. Cornerstone Capital Management Holdings LLC. increased its stake in Overstock.com by 46.9% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 171,338 shares of the company’s stock valued at $5,088,000 after buying an additional 54,700 shares during the period. Partnervest Advisory Services LLC acquired a new position in shares of Overstock.com during the 3rd quarter worth $244,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Overstock.com by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,631,200 shares of the company’s stock worth $48,446,000 after purchasing an additional 53,031 shares during the period. Hedge funds and other institutional investors own 47.74% of the company’s stock.

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Overstock.com Company Profile

Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.

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