Overstock.com Inc (NASDAQ:OSTK) Short Interest Update

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Overstock.com Inc (NASDAQ:OSTK) saw a significant decrease in short interest during the month of November. As of November 29th, there was short interest totalling 8,960,000 shares, a decrease of 9.1% from the November 14th total of 9,860,000 shares. Based on an average daily trading volume, of 3,720,000 shares, the short-interest ratio is currently 2.4 days. Approximately 27.1% of the shares of the stock are short sold.

A number of brokerages recently commented on OSTK. Maxim Group set a $40.00 price target on Overstock.com and gave the company a “buy” rating in a research note on Monday, August 26th. DA Davidson dropped their price target on Overstock.com from $48.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. BidaskClub lowered Overstock.com from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 14th. Finally, Zacks Investment Research raised Overstock.com from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $25.67.

OSTK stock traded down $0.23 during midday trading on Friday, reaching $7.14. 1,134,048 shares of the company traded hands, compared to its average volume of 1,123,977. Overstock.com has a 52-week low of $6.92 and a 52-week high of $29.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.68 and a current ratio of 0.72. The business has a 50 day moving average of $8.66 and a 200-day moving average of $13.57. The firm has a market capitalization of $251.68 million, a price-to-earnings ratio of -1.15 and a beta of 2.23.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.25). Overstock.com had a negative net margin of 8.90% and a negative return on equity of 65.78%. The company had revenue of $347.10 million for the quarter, compared to analysts’ expectations of $376.21 million. During the same quarter last year, the company earned ($1.55) earnings per share. The company’s revenue for the quarter was down 21.2% on a year-over-year basis.

In related news, major shareholder Patrick Michael Byrne sold 1,505,123 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $21.84, for a total transaction of $32,871,886.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Morgan Stanley raised its position in Overstock.com by 5.6% during the second quarter. Morgan Stanley now owns 4,192,384 shares of the company’s stock valued at $57,017,000 after purchasing an additional 222,811 shares during the period. BlackRock Inc. raised its position in Overstock.com by 17.5% during the second quarter. BlackRock Inc. now owns 1,855,395 shares of the company’s stock valued at $25,234,000 after purchasing an additional 275,844 shares during the period. Vanguard Group Inc. raised its position in Overstock.com by 30.0% during the second quarter. Vanguard Group Inc. now owns 1,513,402 shares of the company’s stock valued at $20,583,000 after purchasing an additional 348,893 shares during the period. State Street Corp raised its position in Overstock.com by 48.4% during the third quarter. State Street Corp now owns 704,701 shares of the company’s stock valued at $7,463,000 after purchasing an additional 229,757 shares during the period. Finally, CSat Investment Advisory L.P. raised its position in Overstock.com by 63.6% during the second quarter. CSat Investment Advisory L.P. now owns 389,968 shares of the company’s stock valued at $5,304,000 after purchasing an additional 151,552 shares during the period. Institutional investors and hedge funds own 49.61% 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 d├ęcor, 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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