TRUE Private Wealth Advisors bought a new stake in shares of Overstock.com Inc (NASDAQ:OSTK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,250 shares of the company’s stock, valued at approximately $44,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Advisor Group Inc. lifted its stake in Overstock.com by 22.1% during the second quarter. Advisor Group Inc. now owns 4,162 shares of the company’s stock valued at $56,000 after purchasing an additional 754 shares during the last quarter. Rhumbline Advisers lifted its stake in Overstock.com by 6.0% during the first quarter. Rhumbline Advisers now owns 29,533 shares of the company’s stock valued at $491,000 after purchasing an additional 1,666 shares during the last quarter. Investors Research Corp acquired a new stake in Overstock.com during the first quarter valued at approximately $28,000. Pearl River Capital LLC lifted its stake in Overstock.com by 209.7% during the first quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock valued at $68,000 after purchasing an additional 2,745 shares during the last quarter. Finally, Equitec Specialists LLC acquired a new stake in Overstock.com during the second quarter valued at approximately $42,000. 61.58% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on OSTK shares. ValuEngine upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Saturday, August 10th. Maxim Group restated a “buy” rating and issued a $40.00 price target (up previously from $34.00) on shares of Overstock.com in a research report on Friday, August 9th. DA Davidson set a $48.00 price target on shares of Overstock.com and gave the company a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, BidaskClub upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $44.00.
Overstock.com (NASDAQ:OSTK) last issued its quarterly 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. The business had revenue of $373.70 million during the quarter, compared to the consensus estimate of $376.66 million. Overstock.com had a negative net margin of 9.43% and a negative return on equity of 66.84%. The firm’s quarterly revenue was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.20) EPS. On average, equities research analysts predict that Overstock.com Inc will post -3.31 EPS for the current fiscal year.
In related news, Director Joseph J. Tabacco, Jr. acquired 40,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were purchased at an average price of $10.45 per share, for a total transaction of $418,000.00. Following the purchase, the director now owns 66,033 shares in the company, valued at $690,044.85. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 19.40% of the stock is currently owned by corporate insiders.
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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