Overstock.com (NASDAQ:OSTK) Shares Gap Down to $13.02

Overstock.com Inc (NASDAQ:OSTK)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.27, but opened at $13.02. Overstock.com shares last traded at $13.34, with a volume of 140,314 shares trading hands.

Several research firms recently commented on OSTK. BidaskClub raised Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. DA Davidson decreased their price objective on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, March 19th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Overstock.com from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Finally, Maxim Group restated a “buy” rating on shares of Overstock.com in a research note on Thursday, May 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $54.67.

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 company has a market cap of $479.75 million, a P/E ratio of -2.19 and a beta of 2.09. The stock’s 50 day simple moving average is $10.74.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings data 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). Overstock.com had a negative net margin of 11.15% and a negative return on equity of 85.28%. The company had revenue of $367.73 million during the quarter, compared to analyst estimates of $360.91 million. During the same quarter in the prior year, the company earned ($1.74) EPS. The business’s revenue was down 17.4% on a year-over-year basis. On average, equities analysts anticipate that Overstock.com Inc will post -3.31 earnings per share for the current fiscal year.

In related news, insider John Paul Knab sold 2,500 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $16.93, for a total value of $42,325.00. Following the completion of the sale, the insider now owns 15,812 shares in the company, valued at $267,697.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patrick Michael Byrne sold 500,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.09, for a total transaction of $6,545,000.00. Following the completion of the sale, the chief executive officer now owns 1,056,690 shares of the company’s stock, valued at approximately $13,832,072.10. The disclosure for this sale can be found here. Insiders sold 909,555 shares of company stock valued at $10,775,921 in the last 90 days. 19.40% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Investors Research Corp purchased a new position in Overstock.com in the first quarter valued at about $28,000. Pearl River Capital LLC increased its stake in shares of 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 purchasing an additional 2,745 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of 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 purchasing an additional 5,392 shares in the last quarter. American International Group Inc. increased its stake in shares of 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 purchasing an additional 1,429 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of Overstock.com during the 1st quarter worth approximately $222,000. 60.67% of the stock is owned by institutional investors.

Overstock.com Company Profile (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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