Overstock.com (OSTK) Rating Lowered to Hold at BidaskClub

Overstock.com (NASDAQ:OSTK) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, DA Davidson assumed coverage on shares of Overstock.com in a report on Wednesday, September 6th. They set a “buy” rating and a $28.00 price objective on the stock.

Shares of Overstock.com (OSTK) traded up $3.00 during trading hours on Thursday, reaching $45.65. 3,050,042 shares of the company’s stock were exchanged, compared to its average volume of 773,008. Overstock.com has a 12-month low of $13.75 and a 12-month high of $65.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.86.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings data on Wednesday, November 8th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.06. Overstock.com had a negative net margin of 0.61% and a negative return on equity of 4.95%. The firm had revenue of $424.00 million for the quarter, compared to analyst estimates of $452.60 million. The business’s quarterly revenue was down 4.0% on a year-over-year basis. analysts expect that Overstock.com will post -0.47 earnings per share for the current fiscal year.

In related news, SVP Amit Goyal sold 2,762 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $55.49, for a total value of $153,263.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan E. Johnson III sold 17,500 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $25.00, for a total transaction of $437,500.00. Following the completion of 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. Insiders sold a total of 41,886 shares of company stock worth $1,580,521 in the last ninety days. Insiders own 28.90% of the company’s stock.

Several large investors have recently made changes to their positions in OSTK. Vanguard Group Inc. raised its position in shares of Overstock.com by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 701,775 shares of the company’s stock valued at $12,071,000 after acquiring an additional 33,896 shares during the period. Geode Capital Management LLC raised its position in shares of Overstock.com by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 126,553 shares of the company’s stock valued at $2,176,000 after acquiring an additional 5,124 shares during the period. Morgan Stanley raised its position in shares of Overstock.com by 22.5% in the 1st quarter. Morgan Stanley now owns 97,241 shares of the company’s stock valued at $1,673,000 after acquiring an additional 17,876 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Overstock.com by 6.8% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 64,443 shares of the company’s stock worth $1,109,000 after buying an additional 4,104 shares during the period. Finally, Bank of America Corp DE raised its holdings in Overstock.com by 278.8% during the 1st quarter. Bank of America Corp DE now owns 62,903 shares of the company’s stock worth $1,082,000 after buying an additional 46,298 shares during the period. Institutional investors and hedge funds own 47.74% of the company’s stock.

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About Overstock.com

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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