Overstock.com (OSTK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Overstock.com (NASDAQ:OSTK) from a hold rating to a strong sell rating in a research report report published on Wednesday.

According to Zacks, “Overstock.com, Inc. is an online closeout retailer offering discount, brand-name merchandise for sale over the Internet. Their merchandise offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories. “

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Other analysts have also recently issued research reports about the stock. DA Davidson reduced their target price on shares of Overstock.com from $110.00 to $100.00 and set a buy rating on the stock in a report on Monday, March 19th. BidaskClub cut shares of Overstock.com from a strong-buy rating to a buy rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $62.50.

Shares of OSTK stock opened at $45.20 on Wednesday. The firm has a market cap of $1,334.15, a P/E ratio of -10.59 and a beta of 1.57. Overstock.com has a 1-year low of $13.75 and a 1-year high of $89.80. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.23.

In other Overstock.com news, insider Jonathan E. Johnson III sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $66.10, for a total transaction of $264,400.00. Following the sale, the insider now owns 30,092 shares of the company’s stock, valued at $1,989,081.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 28.90% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. raised its holdings in Overstock.com by 113.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,990 shares of the company’s stock worth $191,000 after purchasing an additional 1,590 shares in the last quarter. Edge Wealth Management LLC acquired a new stake in Overstock.com during the fourth quarter worth approximately $130,000. Pier 88 Investment Partners LLC acquired a new stake in Overstock.com during the fourth quarter worth approximately $147,000. LPL Financial LLC acquired a new stake in Overstock.com during the fourth quarter worth approximately $208,000. Finally, Bank of Montreal Can raised its holdings in Overstock.com by 347.9% during the fourth quarter. Bank of Montreal Can now owns 4,479 shares of the company’s stock worth $286,000 after purchasing an additional 3,479 shares in the last quarter. 69.08% of the stock is currently owned by institutional investors.

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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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