Overstock.com (NASDAQ:OSTK) Receives New Coverage from Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Overstock.com (NASDAQ:OSTK) in a research report released on Thursday morning, TipRanks reports. The brokerage issued a buy rating and a $150.00 price target on the stock.

Other analysts have also recently issued reports about the stock. Wedbush reissued a buy rating on shares of Overstock.com in a report on Tuesday, June 29th. Zacks Investment Research cut shares of Overstock.com from a hold rating to a sell rating and set a $75.00 target price on the stock. in a report on Monday, August 2nd. Finally, Bank of America started coverage on shares of Overstock.com in a research note on Tuesday, September 7th. They set a buy rating on the stock. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Buy and an average price target of $106.40.

Shares of OSTK stock opened at $70.40 on Thursday. The company has a market capitalization of $3.03 billion, a PE ratio of 9.31 and a beta of 4.41. The firm has a fifty day simple moving average of $74.50 and a 200-day simple moving average of $76.53. The company has a current ratio of 1.63, a quick ratio of 1.61 and a debt-to-equity ratio of 0.06. Overstock.com has a twelve month low of $46.75 and a twelve month high of $112.30.

Overstock.com (NASDAQ:OSTK) last posted its quarterly earnings data on Thursday, July 29th. The company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.11). Overstock.com had a net margin of 12.61% and a return on equity of 29.23%. The company had revenue of $794.54 million for the quarter, compared to the consensus estimate of $766.85 million. Equities research analysts predict that Overstock.com will post 2.31 EPS for the current year.

In related news, Director Allison H. Abraham sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $100.00, for a total transaction of $400,000.00. Following the transaction, the director now owns 86,266 shares of the company’s stock, valued at $8,626,600. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President David J. Nielsen sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $100.00, for a total transaction of $100,000.00. Following the transaction, the president now directly owns 13,991 shares in the company, valued at approximately $1,399,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,339 shares of company stock valued at $528,500. Insiders own 1.10% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Overstock.com by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 23,976 shares of the company’s stock worth $2,211,000 after acquiring an additional 190 shares during the last quarter. D L Carlson Investment Group Inc. grew its stake in shares of Overstock.com by 0.6% in the second quarter. D L Carlson Investment Group Inc. now owns 33,865 shares of the company’s stock worth $3,122,000 after acquiring an additional 195 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Overstock.com by 5.4% in the first quarter. ClariVest Asset Management LLC now owns 3,900 shares of the company’s stock worth $258,000 after acquiring an additional 200 shares during the last quarter. TRUE Private Wealth Advisors grew its stake in shares of Overstock.com by 3.3% in the second quarter. TRUE Private Wealth Advisors now owns 6,250 shares of the company’s stock worth $576,000 after acquiring an additional 200 shares during the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its stake in shares of Overstock.com by 1.5% in the second quarter. Weiss Multi Strategy Advisers LLC now owns 15,219 shares of the company’s stock worth $1,403,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 74.43% of the company’s stock.

About Overstock.com

Overstock.com, Inc operates online shopping commercial 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.

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