Maxim Group began coverage on shares of Overstock.com (NASDAQ:OSTK) in a report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $34.00 target price on the stock.
Other equities analysts have also recently issued research reports about the company. DA Davidson initiated coverage on LYFT in a report on Tuesday, March 19th. They issued a buy rating and a $75.00 price target for the company. Zacks Investment Research raised General Moly from a sell rating to a hold rating in a report on Thursday, July 11th. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, BidaskClub cut Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Overstock.com currently has a consensus rating of Hold and a consensus target price of $41.00.
Overstock.com stock traded down $0.54 during trading hours on Tuesday, hitting $18.15. The stock had a trading volume of 105,344 shares, compared to its average volume of 7,507,174. The company’s 50-day simple moving average is $12.77. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.85 and a current ratio of 0.92. The stock has a market cap of $659.38 million, a P/E ratio of -2.90 and a beta of 2.34. Overstock.com has a fifty-two week low of $8.96 and a fifty-two week high of $48.00.
Overstock.com (NASDAQ:OSTK) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.25). The firm had revenue of $367.73 million during the quarter, compared to analyst estimates of $360.91 million. Overstock.com had a negative net margin of 11.15% and a negative return on equity of 85.28%. The company’s revenue was down 17.4% on a year-over-year basis. During the same period last year, the company earned ($1.74) EPS. On average, equities analysts anticipate that Overstock.com will post -3.31 earnings per share for the current fiscal year.
In other Overstock.com news, Director Joseph J. Tabacco, Jr. purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $10.48 per share, for a total transaction of $262,000.00. Following the transaction, the director now directly owns 66,033 shares in the company, valued at $692,025.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Michael Byrne sold 407,055 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $10.29, for a total value of $4,188,595.95. Following the sale, the chief executive officer now owns 1,056,690 shares in the company, valued at $10,873,340.10. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Research Corp bought a new stake in Overstock.com during the 1st quarter worth approximately $28,000. Equitec Specialists LLC bought a new stake in Overstock.com during the 2nd quarter worth approximately $42,000. Pearl River Capital LLC grew its position in Overstock.com by 209.7% during the 1st quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock worth $68,000 after acquiring an additional 2,745 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in Overstock.com by 303.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $97,000 after acquiring an additional 5,392 shares during the last quarter. Finally, American International Group Inc. grew its position in Overstock.com by 10.4% during the 4th quarter. American International Group Inc. now owns 15,178 shares of the company’s stock worth $206,000 after acquiring an additional 1,429 shares during the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
Overstock.com Company Profile
Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.
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