Overstock.com, Inc. (NASDAQ:OSTK)’s share price traded down 8.3% during mid-day trading on Tuesday . The stock traded as low as $27.58 and last traded at $28.10. 5,122,066 shares were traded during mid-day trading, an increase of 1,000% from the average session volume of 465,452 shares. The stock had previously closed at $30.65.
Several equities analysts have issued reports on the company. BidaskClub raised Overstock.com from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. DA Davidson assumed coverage on Overstock.com in a research note on Wednesday, September 6th. They issued a “buy” rating and a $28.00 price target on the stock.
The stock’s 50-day moving average is $25.24 and its 200 day moving average is $18.68. The firm’s market cap is $720.00 million.
Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings data on Thursday, August 3rd. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.32). The business had revenue of $432.02 million during the quarter. Overstock.com had a negative return on equity of 6.36% and a negative net margin of 0.73%. On average, equities research analysts anticipate that Overstock.com, Inc. will post ($0.48) EPS for the current year.
In related news, insider Jonathan E. Johnson III sold 1,500 shares of Overstock.com stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $22.10, for a total transaction of $33,150.00. Following the sale, the insider now directly owns 69,592 shares in the company, valued at $1,537,983.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan E. Johnson III sold 17,500 shares of Overstock.com stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $25.00, for a total value of $437,500.00. Following the sale, the insider now owns 52,092 shares in the company, valued at $1,302,300. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,500 shares of company stock worth $773,570. Corporate insiders own 28.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in OSTK. Dimensional Fund Advisors LP boosted its position in shares of Overstock.com by 205.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,540,722 shares of the company’s stock valued at $26,500,000 after purchasing an additional 1,036,847 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Overstock.com by 16.9% during the second quarter. Renaissance Technologies LLC now owns 934,000 shares of the company’s stock valued at $15,224,000 after purchasing an additional 135,200 shares in the last quarter. Penserra Capital Management LLC boosted its position in shares of Overstock.com by 447.2% during the second quarter. Penserra Capital Management LLC now owns 106,888 shares of the company’s stock valued at $1,742,000 after purchasing an additional 87,353 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Overstock.com by 278.8% during the first quarter. Bank of America Corp DE now owns 62,903 shares of the company’s stock valued at $1,082,000 after purchasing an additional 46,298 shares in the last quarter. Finally, FNY Partners Fund LP bought a new stake in shares of Overstock.com during the second quarter valued at approximately $700,000. Institutional investors own 44.33% of the company’s stock.
Overstock.com, Inc is an online retailer and incubator of blockchain technology. Through its online retail business, the Company offers a range of price-competitive brand name, non-brand name and closeout products, including furniture, home decor, bedding and bath, housewares, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods.
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