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

Investment analysts at Maxim Group began coverage on shares of Overstock.com (NASDAQ:OSTK) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $34.00 price target on the stock. Maxim Group’s price target would indicate a potential upside of 79.51% from the company’s current price.

A number of other research firms have also recently issued reports on OSTK. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Zacks Investment Research upgraded General Moly from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. DA Davidson assumed coverage on LYFT in a report on Tuesday, March 19th. They set a “buy” rating and a $75.00 price target on the stock. Finally, ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $41.00.

Overstock.com stock opened at $18.94 on Tuesday. The company has a market cap of $626.50 million, a PE ratio of -3.05 and a beta of 2.34. Overstock.com has a 52-week low of $8.96 and a 52-week high of $48.00. The stock’s 50 day simple moving average is $12.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.85.

Overstock.com (NASDAQ:OSTK) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.25). The business had revenue of $367.73 million for the quarter, compared to the consensus estimate of $360.91 million. Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. Overstock.com’s quarterly revenue was down 17.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.74) earnings per share. Sell-side analysts expect that Overstock.com will post -3.31 earnings per share for the current fiscal year.

In other news, Director Joseph J. Tabacco, Jr. bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were bought at an average cost of $10.48 per share, for a total transaction of $262,000.00. Following the acquisition, the director now directly owns 66,033 shares in the company, valued at $692,025.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Michael Byrne sold 407,055 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $10.29, for a total value of $4,188,595.95. Following the completion of the transaction, the chief executive officer now owns 1,056,690 shares in the company, valued at $10,873,340.10. The disclosure for this sale can be found here. 19.40% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Investors Research Corp bought a new position in shares of Overstock.com in the 1st quarter worth $28,000. Equitec Specialists LLC bought a new position in shares of Overstock.com in the 2nd quarter worth $42,000. Pearl River Capital LLC lifted its holdings in shares of Overstock.com by 209.7% in the 1st quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock worth $68,000 after purchasing an additional 2,745 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Overstock.com by 303.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $97,000 after purchasing an additional 5,392 shares in the last quarter. Finally, American International Group Inc. lifted its holdings in shares of Overstock.com by 10.4% in the 4th quarter. American International Group Inc. now owns 15,178 shares of the company’s stock worth $206,000 after purchasing an additional 1,429 shares in the last quarter. Institutional investors own 60.68% of the company’s stock.

Overstock.com Company Profile

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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