Overstock.com (OSTK) Trading Down 8%

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Overstock.com Inc (NASDAQ:OSTK) dropped 8% on Thursday . The stock traded as low as $24.94 and last traded at $25.18. Approximately 1,472,095 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 2,431,603 shares. The stock had previously closed at $27.36.

OSTK has been the topic of several recent analyst reports. BidaskClub downgraded Overstock.com from a “hold” rating to a “sell” rating in a report on Wednesday, June 27th. DA Davidson raised their price objective on Overstock.com to $103.00 and gave the stock a “buy” rating in a report on Tuesday, July 3rd. GARP Research upgraded Overstock.com from a “neutral” rating to a “buy” rating in a report on Thursday, October 4th. ValuEngine downgraded Overstock.com from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Finally, Maxim Group assumed coverage on Overstock.com in a report on Monday, September 10th. They set a “buy” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $75.00.

The firm has a market capitalization of $730.47 million, a P/E ratio of -12.82 and a beta of 1.38. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 0.02.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings data on Thursday, August 9th. The company reported ($2.20) EPS for the quarter, missing the consensus estimate of ($0.82) by ($1.38). The firm had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $474.15 million. Overstock.com had a negative return on equity of 95.14% and a negative net margin of 11.74%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) earnings per share. On average, analysts forecast that Overstock.com Inc will post -5.43 EPS for the current year.

In other Overstock.com news, SVP Carter Paul Lee sold 1,300 shares of the stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $30.15, for a total transaction of $39,195.00. Following the sale, the senior vice president now owns 4,835 shares of the company’s stock, valued at approximately $145,775.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Paul Knab sold 2,000 shares of the stock in a transaction on Monday, August 13th. The shares were sold at an average price of $39.75, for a total value of $79,500.00. Following the sale, the senior vice president now directly owns 6,689 shares in the company, valued at approximately $265,887.75. The disclosure for this sale can be found here. Insiders have sold a total of 927,102 shares of company stock worth $23,964,391 in the last ninety days. Insiders own 28.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in OSTK. Wells Fargo & Company MN boosted its position in Overstock.com by 22.1% during the 1st quarter. Wells Fargo & Company MN now owns 37,616 shares of the company’s stock valued at $1,364,000 after acquiring an additional 6,813 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Overstock.com by 8.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 84,106 shares of the company’s stock valued at $3,049,000 after acquiring an additional 6,594 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Overstock.com by 2,197.4% during the 1st quarter. JPMorgan Chase & Co. now owns 105,770 shares of the company’s stock valued at $3,834,000 after acquiring an additional 101,166 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Overstock.com during the 1st quarter valued at $364,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Overstock.com by 662.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,801 shares of the company’s stock valued at $826,000 after acquiring an additional 19,811 shares in the last quarter. 56.77% of the stock is currently 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. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; and other products.

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