Overstock.com (OSTK) Shares Up 9%
Overstock.com, Inc. (NASDAQ:OSTK)’s share price shot up 9% during mid-day trading on Tuesday . The stock traded as high as $47.65 and last traded at $46.10. 4,309,000 shares were traded 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.
OSTK has been the subject of several recent analyst reports. BidaskClub upgraded Overstock.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. DA Davidson initiated coverage on Overstock.com in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price target for the company.
The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 0.33.
Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.06. Overstock.com had a negative return on equity of 4.95% and a negative net margin of 0.61%. The firm had revenue of $424.00 million during the quarter, compared to analyst estimates of $452.60 million. The business’s quarterly revenue was down 4.0% on a year-over-year basis. research analysts expect that Overstock.com, Inc. will post -0.47 earnings per share for the current fiscal year.
In other Overstock.com news, SVP Vikram Raghavan sold 624 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $52.00, for a total transaction of $32,448.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan E. Johnson III sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $25.00, for a total value of $437,500.00. Following the sale, the insider now owns 52,092 shares of the company’s stock, valued at $1,302,300. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,886 shares of company stock valued at $1,580,521. 28.90% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 53,031 shares in the last quarter. Renaissance Technologies LLC increased its stake in Overstock.com by 16.9% during the 2nd quarter. Renaissance Technologies LLC now owns 934,000 shares of the company’s stock worth $15,224,000 after buying an additional 135,200 shares in the last quarter. Vanguard Group Inc. increased its stake in Overstock.com by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 738,024 shares of the company’s stock worth $12,030,000 after buying an additional 36,249 shares in the last quarter. State Street Corp increased its stake in Overstock.com by 11.5% during the 2nd quarter. State Street Corp now owns 275,941 shares of the company’s stock worth $4,501,000 after buying an additional 28,445 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Overstock.com by 20.9% during the 2nd quarter. Northern Trust Corp now owns 211,495 shares of the company’s stock worth $3,447,000 after buying an additional 36,544 shares in the last quarter. 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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