Bank of New York Mellon Corp purchased a new position in Overstock.com Inc (NASDAQ:OSTK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 141,032 shares of the company’s stock, valued at approximately $4,010,000. Bank of New York Mellon Corp owned approximately 0.35% of Overstock.com at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Overstock.com by 47.2% in the 1st quarter. State Street Corp now owns 867,948 shares of the company’s stock worth $4,331,000 after acquiring an additional 278,222 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Overstock.com by 23.4% in the 1st quarter. Geode Capital Management LLC now owns 484,256 shares of the company’s stock worth $2,416,000 after acquiring an additional 91,870 shares in the last quarter. Invesco Ltd. raised its position in shares of Overstock.com by 138.0% in the 1st quarter. Invesco Ltd. now owns 363,816 shares of the company’s stock worth $1,815,000 after acquiring an additional 210,922 shares in the last quarter.
Federated Hermes Inc. purchased a new position in Overstock.com during the 1st quarter worth $1,112,000. Finally, UBS Group AG grew its stake in Overstock.com by 285.2% during the 2nd quarter. UBS Group AG now owns 180,003 shares of the company’s stock worth $5,117,000 after buying an additional 133,278 shares during the last quarter. 61.38% of the stock is owned by hedge funds and other institutional investors.
In other news, CTO Joel Weight sold 435 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $114.91, for a total value of $49,985.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Meghan Tuohig sold 1,500 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $50.00, for a total value of $75,000.00. Following the completion of the sale, the insider now owns 10,235 shares in the company, valued at approximately $511,750. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,514 shares of company stock worth $823,832. Company insiders own 1.30% of the company’s stock.
Overstock.com stock opened at $71.42 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.07. The business’s 50-day simple moving average is $89.36 and its two-hundred day simple moving average is $38.89. The company has a market cap of $2.88 billion, a PE ratio of -60.52 and a beta of 4.44. Overstock.com Inc has a fifty-two week low of $2.53 and a fifty-two week high of $128.50.
Overstock.com (NASDAQ:OSTK) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.96. The business had revenue of $783.00 million for the quarter, compared to the consensus estimate of $680.20 million. Overstock.com had a negative return on equity of 21.29% and a negative net margin of 2.05%. The company’s quarterly revenue was up 109.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.69) EPS. As a group, analysts predict that Overstock.com Inc will post -0.29 EPS for the current fiscal year.
OSTK has been the topic of several research analyst reports. Wedbush initiated coverage on Overstock.com in a research note on Tuesday, September 15th. They set an “outperform” rating and a $92.00 target price on the stock. ValuEngine downgraded Overstock.com from a “buy” rating to a “hold” rating in a research note on Thursday, July 2nd. DA Davidson boosted their target price on Overstock.com from $66.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. BofA Securities initiated coverage on Overstock.com in a research note on Friday, September 4th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Needham & Company LLC initiated coverage on Overstock.com in a research note on Monday, September 14th. They set a “buy” rating and a $96.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $86.25.
Overstock.com Company Profile
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.
