Overstock.com (NASDAQ:OSTK) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Overstock.com (NASDAQ:OSTK – Get Rating) in a research report released on Thursday morning. The brokerage issued a sell rating on the stock.

OSTK has been the topic of several other reports. TheStreet cut Overstock.com from a c- rating to a d+ rating in a research report on Friday, March 10th. Wedbush cut their price target on shares of Overstock.com from $42.00 to $26.00 and set an outperform rating for the company in a report on Thursday, February 23rd. Piper Sandler lowered their price objective on shares of Overstock.com from $34.00 to $29.00 and set an overweight rating on the stock in a research note on Thursday, February 23rd. Jefferies Financial Group assumed coverage on shares of Overstock.com in a research note on Friday, January 13th. They set a hold rating and a $20.00 target price for the company. Finally, DA Davidson decreased their price target on shares of Overstock.com from $98.00 to $91.00 and set a buy rating on the stock in a research report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $35.57.

Overstock.com Trading Up 8.5 %

Shares of NASDAQ OSTK opened at $19.41 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.13. The firm’s 50-day moving average price is $20.84 and its two-hundred day moving average price is $22.86. Overstock.com has a 52-week low of $17.05 and a 52-week high of $53.34.

Overstock.com (NASDAQ:OSTK – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). The company had revenue of $404.90 million during the quarter, compared to the consensus estimate of $448.66 million. Overstock.com had a negative net margin of 1.83% and a positive return on equity of 3.31%. The business’s quarterly revenue was down 33.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, research analysts predict that Overstock.com will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Eric Glen Nickle sold 2,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $17.19, for a total transaction of $34,380.00. Following the transaction, the insider now directly owns 15,434 shares of the company’s stock, valued at $265,310.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Eric Glen Nickle sold 2,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $17.19, for a total value of $34,380.00. Following the transaction, the insider now directly owns 15,434 shares of the company’s stock, valued at $265,310.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barclay F. Corbus sold 2,334 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $21.15, for a total value of $49,364.10. Following the completion of the transaction, the director now owns 50,273 shares in the company, valued at approximately $1,063,273.95. The disclosure for this sale can be found here. Insiders sold 4,934 shares of company stock worth $96,734 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Overstock.com

Several large investors have recently added to or reduced their stakes in the business. Rice Hall James & Associates LLC lifted its stake in shares of Overstock.com by 26.2% in the 1st quarter. Rice Hall James & Associates LLC now owns 557,122 shares of the company’s stock valued at $24,516,000 after purchasing an additional 115,545 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Overstock.com by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 49,711 shares of the company’s stock worth $2,187,000 after acquiring an additional 4,692 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Overstock.com by 73.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,184 shares of the company’s stock valued at $360,000 after acquiring an additional 3,460 shares during the last quarter. Citigroup Inc. raised its stake in shares of Overstock.com by 211.1% in the 1st quarter. Citigroup Inc. now owns 54,741 shares of the company’s stock valued at $2,409,000 after acquiring an additional 37,147 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Overstock.com by 54.2% in the 1st quarter. MetLife Investment Management LLC now owns 23,589 shares of the company’s stock valued at $1,038,000 after acquiring an additional 8,291 shares in the last quarter. 62.13% of the stock is owned by institutional investors.

Overstock.com Company Profile

(Get Rating)

Overstock.com, Inc operates an online shopping site. It also sells these products through www.overstock.com, www.o.com, and www.o.biz. It operates through the following business segments: Retail, tZERO, and MVI. The Retail Segment engages in e-commerce sales through its website. The tZERO Segment focuses on securities transaction through its broker-dealers.