Wedbush initiated coverage on shares of Overstock.com (NASDAQ:OSTK) in a report released on Tuesday morning, Benzinga reports. The firm issued an outperform rating and a $92.00 target price on the stock.
Several other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of Overstock.com from a buy rating to a hold rating in a report on Thursday, July 2nd. BofA Securities started coverage on shares of Overstock.com in a report on Friday, September 4th. They issued a neutral rating and a $78.00 price target on the stock. Needham & Company LLC started coverage on shares of Overstock.com in a report on Monday. They issued a buy rating and a $96.00 price target on the stock. DA Davidson upped their price objective on Overstock.com from $66.00 to $103.00 and gave the stock a buy rating in a research report on Friday, July 31st. Finally, BidaskClub lowered Overstock.com from a buy rating to a hold rating in a research report on Saturday, September 5th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $86.25.
Shares of OSTK traded up $3.12 during mid-day trading on Tuesday, hitting $76.45. 80,833 shares of the company traded hands, compared to its average volume of 4,280,827. Overstock.com has a 1-year low of $2.53 and a 1-year high of $128.50. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.96 billion, a PE ratio of -62.14 and a beta of 4.44. The business has a 50 day moving average of $88.67 and a 200 day moving average of $36.16.
In other news, insider Meghan Tuohig sold 750 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $36.20, for a total transaction of $27,150.00. Following the transaction, the insider now owns 13,985 shares in the company, valued at approximately $506,257. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Alan Baker sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $107.20, for a total value of $214,400.00. Following the transaction, the insider now owns 1,164 shares in the company, valued at approximately $124,780.80. The disclosure for this sale can be found here. Insiders have sold a total of 10,764 shares of company stock worth $830,082 in the last quarter. Insiders own 1.30% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Two Sigma Advisers LP purchased a new position in shares of Overstock.com during the 2nd quarter valued at approximately $8,580,000. Nuveen Asset Management LLC lifted its holdings in Overstock.com by 30.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 189,826 shares of the company’s stock valued at $5,397,000 after purchasing an additional 44,674 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Overstock.com by 14.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 236,137 shares of the company’s stock valued at $6,714,000 after purchasing an additional 30,694 shares in the last quarter. Rockbridge Investment Management LCC purchased a new position in Overstock.com in the 2nd quarter valued at $62,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Overstock.com in the 2nd quarter valued at $1,422,000. Hedge funds and other institutional investors own 61.38% of the company’s stock.
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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