Overstock.com (NASDAQ:OSTK) Shares Down 17.6%

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Overstock.com Inc (NASDAQ:OSTK) was down 17.6% on Tuesday . The stock traded as low as $20.05 and last traded at $20.58, approximately 6,944,120 shares traded hands during mid-day trading. An increase of 106% from the average daily volume of 3,368,823 shares. The stock had previously closed at $24.97.

Several equities analysts recently weighed in on OSTK shares. Zacks Investment Research upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Maxim Group restated a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Overstock.com in a report on Friday. BidaskClub upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. ValuEngine upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Saturday. Finally, DA Davidson set a $48.00 price objective on shares of Overstock.com and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.00.

The stock’s fifty day moving average is $18.50. The firm has a market cap of $888.60 million, a price-to-earnings ratio of -3.31 and a beta of 2.40. The company has a quick ratio of 0.85, a current ratio of 0.92 and a debt-to-equity ratio of 0.19.

Overstock.com (NASDAQ:OSTK) last issued its earnings results on Thursday, August 8th. The company reported ($0.69) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.23. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 64.85%. The firm had revenue of $373.70 million during the quarter, compared to the consensus estimate of $376.66 million. During the same quarter in the prior year, the firm earned ($2.20) earnings per share. The business’s quarterly revenue was down 22.6% on a year-over-year basis. On average, research analysts anticipate that Overstock.com Inc will post -3.31 earnings per share for the current fiscal year.

In other news, Director Joseph J. Tabacco, Jr. bought 40,000 shares of the stock in a transaction on Monday, May 20th. The stock was purchased at an average price of $10.45 per share, with a total value of $418,000.00. Following the completion of the purchase, the director now owns 66,033 shares of the company’s stock, valued at $690,044.85. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Michael Byrne sold 407,055 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $10.29, for a total transaction of $4,188,595.95. Following the completion of the sale, the chief executive officer now directly owns 1,056,690 shares of the company’s stock, valued at approximately $10,873,340.10. The disclosure for this sale can be found here. Insiders sold 407,555 shares of company stock valued at $4,199,823 in the last ninety days. Insiders own 19.40% of the company’s stock.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its position in shares of Overstock.com by 17.5% during the second quarter. BlackRock Inc. now owns 1,855,395 shares of the company’s stock worth $25,234,000 after acquiring an additional 275,844 shares in the last quarter. SG Americas Securities LLC grew its position in Overstock.com by 374.3% in the second quarter. SG Americas Securities LLC now owns 201,541 shares of the company’s stock valued at $2,741,000 after purchasing an additional 159,049 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Overstock.com by 43.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 230,810 shares of the company’s stock valued at $3,140,000 after purchasing an additional 70,251 shares in the last quarter. Trellus Management Company LLC grew its position in Overstock.com by 260.0% in the second quarter. Trellus Management Company LLC now owns 90,000 shares of the company’s stock valued at $1,224,000 after purchasing an additional 65,000 shares in the last quarter. Finally, Balter Liquid Alternatives LLC grew its position in Overstock.com by 218.9% in the second quarter. Balter Liquid Alternatives LLC now owns 72,466 shares of the company’s stock valued at $986,000 after purchasing an additional 49,740 shares in the last quarter. 61.58% of the stock is owned by hedge funds and other institutional investors.

About Overstock.com (NASDAQ:OSTK)

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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