Palisade Capital Management LLC NJ Purchases 62,433 Shares of Overstock.com, Inc. (NASDAQ:OSTK)

Palisade Capital Management LLC NJ lifted its position in shares of Overstock.com, Inc. (NASDAQ:OSTK – Get Rating) by 39.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,173 shares of the company’s stock after purchasing an additional 62,433 shares during the quarter. Palisade Capital Management LLC NJ owned about 0.47% of Overstock.com worth $9,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Overstock.com by 2,548.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,172 shares of the company’s stock valued at $129,000 after purchasing an additional 2,090 shares in the last quarter. Curi Wealth Management LLC bought a new stake in Overstock.com in the fourth quarter worth $151,000. Prospera Financial Services Inc bought a new stake in Overstock.com in the first quarter worth $139,000. Forefront Wealth Management Inc. bought a new stake in Overstock.com in the fourth quarter worth $225,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in Overstock.com by 37.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,017 shares of the company’s stock worth $237,000 after acquiring an additional 1,087 shares in the last quarter. 71.56% of the stock is currently owned by institutional investors.

Overstock.com Stock Up 1.9 %

OSTK stock opened at $28.94 on Friday. Overstock.com, Inc. has a 1-year low of $24.69 and a 1-year high of $111.28. The business has a fifty day moving average price of $28.91 and a 200-day moving average price of $37.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.94 and a quick ratio of 1.89. The stock has a market capitalization of $1.32 billion, a P/E ratio of 17.65, a P/E/G ratio of 26.82 and a beta of 3.69.

Overstock.com (NASDAQ:OSTK – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.15). The business had revenue of $528.12 million during the quarter, compared to analysts’ expectations of $600.73 million. Overstock.com had a return on equity of 8.43% and a net margin of 3.41%. The firm’s revenue for the quarter was down 33.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.72 EPS. Equities analysts forecast that Overstock.com, Inc. will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. DA Davidson dropped their target price on Overstock.com from $116.00 to $69.00 in a report on Friday, July 29th. Wedbush dropped their target price on Overstock.com from $95.00 to $66.00 in a report on Thursday, April 28th. Raymond James assumed coverage on Overstock.com in a report on Wednesday, June 29th. They issued a “market perform” rating on the stock. Finally, Bank of America dropped their target price on Overstock.com from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Thursday, July 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Overstock.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.86.

Insider Activity at Overstock.com

In related news, insider Krista Dalton sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $29.33, for a total transaction of $58,660.00. Following the completion of the sale, the insider now owns 5,370 shares in the company, valued at $157,502.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jonathan E. Johnson III acquired 1,000 shares of Overstock.com stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average price of $28.83 per share, for a total transaction of $28,830.00. Following the completion of the transaction, the chief executive officer now owns 126,234 shares in the company, valued at $3,639,326.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Krista Dalton sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $29.33, for a total value of $58,660.00. Following the sale, the insider now owns 5,370 shares of the company’s stock, valued at approximately $157,502.10. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Overstock.com Company Profile

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Overstock.com, Inc operates as an online retailer in the United States. The company offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. It provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.