Overstock.com, Inc. (OSTK) Stock Price Up 6.7%
Overstock.com, Inc. (NASDAQ:OSTK)’s share price rose 6.7% on Wednesday . The stock traded as high as $60.80 and last traded at $60.45. Approximately 3,113,100 shares traded hands during trading, an increase of 391% from the average daily volume of 634,262 shares. The stock had previously closed at $56.65.
OSTK has been the topic of several recent research reports. DA Davidson raised their price objective on shares of Overstock.com from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. They noted that the move was a valuation call. BidaskClub raised shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th.
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 issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. The firm had revenue of $424.00 million for the quarter, compared to analyst estimates 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 revenue was down 4.0% on a year-over-year basis. equities research analysts forecast that Overstock.com, Inc. will post -0.47 earnings per share for the current year.
In other Overstock.com news, insider Jonathan E. Johnson III sold 17,500 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $25.00, for a total transaction of $437,500.00. Following the transaction, the insider now owns 52,092 shares in the company, valued at $1,302,300. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan E. Johnson III sold 1,500 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $22.10, for a total value of $33,150.00. Following the transaction, the insider now owns 69,592 shares in the company, valued at approximately $1,537,983.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,386 shares of company stock worth $1,324,111. Corporate insiders own 28.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in Overstock.com by 3.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,631,200 shares of the company’s stock valued at $48,446,000 after purchasing an additional 53,031 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Overstock.com by 16.9% in the second quarter. Renaissance Technologies LLC now owns 934,000 shares of the company’s stock worth $15,224,000 after acquiring an additional 135,200 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Overstock.com by 5.2% in the second quarter. Vanguard Group Inc. now owns 738,024 shares of the company’s stock worth $12,030,000 after acquiring an additional 36,249 shares during the last quarter. State Street Corp grew its stake in shares of Overstock.com by 11.5% in the second quarter. State Street Corp now owns 275,941 shares of the company’s stock worth $4,501,000 after acquiring an additional 28,445 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Overstock.com by 20.9% in the second quarter. Northern Trust Corp now owns 211,495 shares of the company’s stock worth $3,447,000 after acquiring an additional 36,544 shares during the last quarter. Institutional investors own 44.07% 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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