Patrick Michael Byrne Sells 500,000 Shares of Overstock.com Inc (OSTK) Stock

Overstock.com Inc (NASDAQ:OSTK) CEO Patrick Michael Byrne sold 500,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $13.09, for a total transaction of $6,545,000.00. Following the completion of the transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at $13,832,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ OSTK traded down $0.58 during mid-day trading on Thursday, reaching $10.29. The company had a trading volume of 96,394 shares, compared to its average volume of 2,468,548. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. Overstock.com Inc has a 52 week low of $10.64 and a 52 week high of $48.00. The stock has a market cap of $453.35 million, a PE ratio of -1.65 and a beta of 1.92.

Overstock.com (NASDAQ:OSTK) last issued its earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.93) by ($0.25). Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. The business had revenue of $367.73 million for the quarter, compared to the consensus estimate of $360.91 million. During the same quarter in the previous year, the company earned ($1.74) earnings per share. The firm’s revenue was down 17.4% on a year-over-year basis.

Institutional investors have recently modified their holdings of the business. Investors Research Corp bought a new position in Overstock.com during the 1st quarter worth about $28,000. NumerixS Investment Technologies Inc bought a new position in Overstock.com during the 1st quarter worth about $52,000. Pearl River Capital LLC grew its holdings in 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 acquiring an additional 2,745 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in 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 acquiring an additional 5,392 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in Overstock.com during the 1st quarter worth about $201,000. Institutional investors own 61.31% of the company’s stock.

OSTK has been the topic of a number of research analyst reports. DA Davidson cut their price target on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, March 19th. They noted that the move was a valuation call. BidaskClub upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $54.67.

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About Overstock.com

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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Insider Buying and Selling by Quarter for Overstock.com (NASDAQ:OSTK)

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