Overstock.com (OSTK) Research Coverage Started at Maxim Group

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Investment analysts at Maxim Group assumed coverage on shares of Overstock.com (NASDAQ:OSTK) in a report issued on Monday, September 17th. The brokerage set a “buy” rating and a $75.00 price target on the stock. Maxim Group’s price objective would indicate a potential upside of 184.09% from the company’s previous close.

A number of other analysts have also issued reports on the stock. BidaskClub lowered shares of Overstock.com from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 11th. DA Davidson boosted their price target on shares of Overstock.com from $90.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. GARP Research began coverage on shares of Overstock.com in a research note on Thursday, September 6th. They set a “neutral” rating on the stock. ValuEngine lowered shares of Overstock.com from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Zacks Investment Research upgraded shares of Overstock.com from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, July 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $75.00.

NASDAQ OSTK traded up $1.54 during trading hours on Monday, reaching $26.40. The company had a trading volume of 1,249,957 shares, compared to its average volume of 2,457,332. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.91 and a quick ratio of 0.85. The stock has a market capitalization of $803.57 million, a P/E ratio of -14.59 and a beta of 1.39. Overstock.com has a 1-year low of $24.14 and a 1-year high of $89.80.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, August 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.82) by ($1.38). The business had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $474.15 million. Overstock.com had a negative return on equity of 95.14% and a negative net margin of 11.74%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) earnings per share. As a group, analysts anticipate that Overstock.com will post -5.43 EPS for the current year.

In related news, SVP John Paul Knab sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $39.75, for a total transaction of $79,500.00. Following the sale, the senior vice president now directly owns 6,689 shares in the company, valued at $265,887.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick Byrne sold 147,499 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $25.65, for a total transaction of $3,783,349.35. Following the completion of the transaction, the chief executive officer now owns 1,050,023 shares in the company, valued at $26,933,089.95. The disclosure for this sale can be found here. Insiders have sold 929,102 shares of company stock worth $24,050,091 over the last 90 days. Insiders own 24.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH increased its stake in Overstock.com by 93.7% in the first quarter. Allianz Asset Management GmbH now owns 1,744,410 shares of the company’s stock valued at $63,235,000 after purchasing an additional 843,959 shares during the last quarter. BlackRock Inc. increased its stake in Overstock.com by 40.1% in the second quarter. BlackRock Inc. now owns 1,543,190 shares of the company’s stock valued at $51,928,000 after purchasing an additional 442,091 shares during the last quarter. Passport Capital LLC purchased a new position in Overstock.com in the first quarter valued at approximately $18,868,000. Millennium Management LLC increased its stake in Overstock.com by 429.1% in the second quarter. Millennium Management LLC now owns 470,244 shares of the company’s stock valued at $15,824,000 after purchasing an additional 381,369 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Overstock.com by 30.7% in the second quarter. Northern Trust Corp now owns 269,826 shares of the company’s stock valued at $9,079,000 after purchasing an additional 63,396 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Overstock.com Company Profile

Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; and other products.

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