Zacks Investment Research cut shares of Overstock.com (NASDAQ:OSTK) from a hold rating to a strong sell rating in a research report released on Wednesday, March 21st.
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. “
Several other research analysts also recently commented on the company. DA Davidson reduced their price objective on Overstock.com from $110.00 to $100.00 and set a buy rating on the stock in a report on Monday, March 19th. BidaskClub downgraded Overstock.com from a hold rating to a sell rating in a report on Friday, March 16th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. Overstock.com currently has an average rating of Hold and an average target price of $62.50.
OSTK traded up $2.90 during trading on Wednesday, hitting $39.20. 3,524,790 shares of the stock were exchanged, compared to its average volume of 3,947,208. The company has a market capitalization of $1,102.70, a P/E ratio of -21.66 and a beta of 1.87. 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 stock in a transaction on Thursday, February 1st. The stock was 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 approximately $1,989,081.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 28.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Overstock.com by 113.6% in the 4th 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 shares of Overstock.com in the 4th quarter worth $130,000. Pier 88 Investment Partners LLC acquired a new stake in shares of Overstock.com in the 4th quarter worth $147,000. LPL Financial LLC acquired a new stake in shares of Overstock.com in the 4th quarter worth $208,000. Finally, Bank of Montreal Can boosted its position in shares of Overstock.com by 347.9% in the 4th 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. 58.63% of the stock is currently owned by institutional investors and hedge funds.
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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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