Investors Research Corp bought a new position in Overstock.com Inc (NASDAQ:OSTK) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,700 shares of the company’s stock, valued at approximately $28,000.
Several other institutional investors and hedge funds also recently modified their holdings of OSTK. Metropolitan Life Insurance Co. NY increased its stake in shares of Overstock.com by 303.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $97,000 after acquiring an additional 5,392 shares during the last quarter. American International Group Inc. increased its stake in shares of Overstock.com by 10.4% in the 4th quarter. American International Group Inc. now owns 15,178 shares of the company’s stock worth $206,000 after acquiring an additional 1,429 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of Overstock.com in the 4th quarter worth $254,000. Supplemental Annuity Collective Trust of NJ acquired a new stake in shares of Overstock.com in the 4th quarter worth $285,000. Finally, New Jersey Better Educational Savings Trust acquired a new stake in shares of Overstock.com in the 4th quarter worth $299,000. 63.35% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. BidaskClub raised Overstock.com from a “sell” rating to a “hold” rating in a research note on Thursday, March 7th. DA Davidson lowered their price target on Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a report on Tuesday, March 19th. They noted that the move was a valuation call. Zacks Investment Research upgraded Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. Finally, ValuEngine cut Overstock.com from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.67.
Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Monday, March 18th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.48). The business had revenue of $452.50 million for the quarter, compared to analysts’ expectations of $483.20 million. Overstock.com had a negative return on equity of 86.04% and a negative net margin of 11.31%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($3.72) earnings per share. As a group, equities analysts expect that Overstock.com Inc will post -2.54 earnings per share for the current year.
In other news, insider John Paul Knab sold 2,500 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $16.93, for a total transaction of $42,325.00. Following the completion of the transaction, the insider now directly owns 15,812 shares in the company, valued at approximately $267,697.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph J. Tabacco, Jr. purchased 5,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were acquired at an average price of $18.20 per share, with a total value of $91,000.00. Following the completion of the acquisition, the director now owns 56,033 shares in the company, valued at approximately $1,019,800.60. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $69,250. Company insiders own 19.40% of the company’s stock.
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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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