Overstock.com (NASDAQ:OSTK) Sees Unusually-High Trading Volume

Overstock.com Inc (NASDAQ:OSTK) shares saw unusually-high trading volume on Thursday . Approximately 544,510 shares changed hands during trading, a decline of 73% from the previous session’s volume of 1,987,831 shares.The stock last traded at $13.86 and had previously closed at $13.50.

OSTK has been the topic of a number of recent research reports. Maxim Group reissued a “buy” rating on shares of Overstock.com in a research report on Thursday, May 30th. DA Davidson reduced their target price on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating on the stock in a research report on Tuesday, March 19th. They noted that the move was a valuation call. BidaskClub raised shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Zacks Investment Research cut shares of Overstock.com from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $54.67.

The company has a market capitalization of $459.29 million, a PE ratio of -2.19 and a beta of 2.09. The business’s fifty day simple moving average is $10.74. 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 posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.93) by ($0.25). The company 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 in the prior year, the company earned ($1.74) earnings per share. On average, equities research analysts anticipate that Overstock.com Inc will post -3.31 earnings per share for the current fiscal year.

In related news, CEO Patrick Michael Byrne sold 500,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $13.09, for a total value of $6,545,000.00. Following the sale, the chief executive officer now directly owns 1,056,690 shares of the company’s stock, valued at $13,832,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Paul Knab sold 2,500 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $16.93, for a total transaction of $42,325.00. Following the sale, the insider now owns 15,812 shares of the company’s stock, valued at approximately $267,697.16. The disclosure for this sale can be found here. Insiders sold 909,555 shares of company stock worth $10,775,921 over the last ninety days. 19.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board acquired a new stake in Overstock.com in the first quarter worth about $389,000. Pearl River Capital LLC boosted its holdings in Overstock.com by 209.7% during the first quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock worth $68,000 after buying an additional 2,745 shares during the last quarter. Rhumbline Advisers boosted its holdings in Overstock.com by 6.0% during the first quarter. Rhumbline Advisers now owns 29,533 shares of the company’s stock worth $491,000 after buying an additional 1,666 shares during the last quarter. Emerald Advisers LLC bought a new position in Overstock.com during the first quarter worth about $222,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Overstock.com during the first quarter worth about $229,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

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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