Overstock.com (NASDAQ:OSTK) Trading Up 7.4%

Overstock.com, Inc. (NASDAQ:OSTK – Get Rating)’s share price was up 7.4% during mid-day trading on Friday . The stock traded as high as $19.29 and last traded at $19.21. Approximately 1,239,914 shares changed hands during trading, a decline of 18% from the average daily volume of 1,512,777 shares. The stock had previously closed at $17.89.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Overstock.com in a report on Friday, January 13th. They set a “hold” rating and a $20.00 price objective on the stock. Barclays cut their price objective on shares of Overstock.com from $23.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, February 23rd. TheStreet lowered shares of Overstock.com from a “c-” rating to a “d+” rating in a report on Friday, March 10th. Needham & Company LLC lowered shares of Overstock.com from a “buy” rating to a “hold” rating in a report on Wednesday, January 4th. Finally, Piper Sandler cut their price target on shares of Overstock.com from $34.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $35.57.

Overstock.com Price Performance

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 company’s 50-day simple moving average is $20.84 and its 200-day simple moving average is $22.86. The company has a market cap of $874.03 million, a price-to-earnings ratio of -23.67 and a beta of 3.42.

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

Insider Transactions at Overstock.com

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

Hedge Funds Weigh In On Overstock.com

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd boosted its holdings in Overstock.com by 7,081.8% in the first quarter. Covestor Ltd now owns 790 shares of the company’s stock worth $35,000 after purchasing an additional 779 shares during the period. Wagner Wealth Management LLC acquired a new position in Overstock.com in the second quarter worth $25,000. Captrust Financial Advisors boosted its holdings in Overstock.com by 308.3% in the first quarter. Captrust Financial Advisors now owns 1,037 shares of the company’s stock worth $46,000 after purchasing an additional 783 shares during the period. CoreCap Advisors LLC acquired a new position in Overstock.com in the second quarter worth $30,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Overstock.com in the fourth quarter worth $29,000. Institutional investors and hedge funds own 62.13% of the company’s stock.

About Overstock.com

(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.