Nuveen Asset Management acquires major stakes in Overstock

Nuveen Asset Management LLC increased its position in Overstock.com Inc (NASDAQ:OSTK) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC).

The fund owned 189,826 shares of the company’s stock after buying an additional 44,674 shares during the period. Nuveen Asset Management LLC owned about 0.47% of Overstock.com worth $5,397,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OSTK. Portolan Capital Management LLC acquired a new position in shares of Overstock.com in the second quarter valued at approximately $8,772,000. Vanguard Group Inc. raised its position in shares of Overstock.com by 18.3% in the second quarter. Vanguard Group Inc. now owns 1,944,298 shares of the company’s stock valued at $55,276,000 after buying an additional 300,582 shares during the last quarter. State Street Corp raised its position in shares of Overstock.com by 47.2% in the first quarter. State Street Corp now owns 867,948 shares of the company’s stock valued at $4,331,000 after buying an additional 278,222 shares during the last quarter. Atom Investors LP acquired a new position in shares of Overstock.com in the second quarter valued at approximately $6,958,000. Finally, Federated Hermes Inc. acquired a new position in shares of Overstock.com in the first quarter valued at approximately $1,112,000. 61.38% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the stock. ValuEngine lowered shares of Overstock.com from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Bank of America assumed coverage on shares of Overstock.com in a research report on Friday, September 4th. They set a “neutral” rating and a $78.00 price target for the company. BofA Securities assumed coverage on shares of Overstock.com in a research report on Friday, September 4th. They set a “neutral” rating and a $78.00 price target for the company. Needham & Company LLC assumed coverage on shares of Overstock.com in a research report on Monday, September 14th. They set a “buy” rating and a $96.00 price target for the company.

Finally, Wedbush assumed coverage on shares of Overstock.com in a research report on Tuesday, September 15th. They set an “outperform” rating and a $92.00 price target for the company. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.25.

OSTK opened at $78.21 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.21. Overstock.com Inc has a 52-week low of $2.53 and a 52-week high of $128.50. The company has a 50 day moving average of $84.45 and a two-hundred day moving average of $43.53. The company has a market cap of $3.16 billion, a P/E ratio of -66.28 and a beta of 4.44.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.96. Overstock.com had a negative net margin of 2.05% and a negative return on equity of 21.29%. The company had revenue of $783.00 million during the quarter, compared to the consensus estimate of $680.20 million. During the same period in the previous year, the firm earned ($0.69) earnings per share. Overstock.com’s revenue for the quarter was up 109.8% on a year-over-year basis. Research analysts anticipate that Overstock.com Inc will post -0.29 earnings per share for the current year.

In other news, insider Carter Paul Lee sold 10,000 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. Following the completion of the transaction, the insider now directly owns 17,187 shares in the company, valued at $1,289,025. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Meghan Tuohig sold 1,500 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $50.00, for a total transaction of $75,000.00. Following the completion of the transaction, the insider now owns 10,235 shares of the company’s stock, valued at $511,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,264 shares of company stock valued at $1,531,682. 1.30% of the stock is owned by insiders.

About Overstock.com

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.