BKS Advisors LLC acquired a new position in Overstock.com Inc (NASDAQ:OSTK) during the third quarter, Holdings Channel reports. The firm acquired 11,000 shares of the company’s stock, valued at approximately $304,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH raised its stake in shares of Overstock.com by 93.7% in the 1st quarter. Allianz Asset Management GmbH now owns 1,744,410 shares of the company’s stock worth $63,235,000 after buying an additional 843,959 shares in the last quarter. BlackRock Inc. raised its stake in shares of Overstock.com by 40.1% in the 2nd quarter. BlackRock Inc. now owns 1,543,190 shares of the company’s stock worth $51,928,000 after buying an additional 442,091 shares in the last quarter. Millennium Management LLC raised its stake in shares of Overstock.com by 429.1% in the 2nd quarter. Millennium Management LLC now owns 470,244 shares of the company’s stock worth $15,824,000 after buying an additional 381,369 shares in the last quarter. Northern Trust Corp raised its stake in shares of Overstock.com by 30.7% in the 2nd quarter. Northern Trust Corp now owns 269,826 shares of the company’s stock worth $9,079,000 after buying an additional 63,396 shares in the last quarter. Finally, CSat Investment Advisory L.P. bought a new stake in shares of Overstock.com in the 2nd quarter worth $6,802,000. 56.65% of the stock is currently owned by institutional investors.
Shares of NASDAQ OSTK opened at $19.88 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.85 and a current ratio of 0.91. The firm has a market capitalization of $615.30 million, a P/E ratio of -10.98 and a beta of 1.38. Overstock.com Inc has a 52-week low of $19.80 and a 52-week high of $89.80.
A number of research firms have recently commented on OSTK. DA Davidson boosted their price objective on Overstock.com from $90.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research raised Overstock.com from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Thursday, July 5th. BidaskClub raised Overstock.com from a “sell” rating to a “hold” rating in a research note on Saturday, July 7th. Maxim Group began coverage on Overstock.com in a research note on Monday, September 17th. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, GARP Research raised Overstock.com from a “neutral” rating to a “buy” rating in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Overstock.com currently has an average rating of “Hold” and an average target price of $75.00.
In related news, CEO Patrick Byrne sold 147,499 shares of Overstock.com stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $25.65, for a total value of $3,783,349.35. Following the transaction, the chief executive officer now directly owns 1,050,023 shares in the company, valued at approximately $26,933,089.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Paul Knab sold 2,000 shares of Overstock.com stock in a transaction on Monday, August 13th. The stock was sold at an average price of $39.75, for a total value of $79,500.00. Following the completion of the transaction, the senior vice president now owns 6,689 shares in the company, valued at $265,887.75. The disclosure for this sale can be found here. Insiders sold a total of 927,102 shares of company stock worth $23,964,391 over the last 90 days. Insiders own 24.20% 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.
Further Reading: How analysts view the yield curve
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