Overstock.com (OSTK) Receives “Buy” Rating from Maxim Group

Maxim Group restated their buy rating on shares of Overstock.com (NASDAQ:OSTK) in a research report report published on Wednesday morning. They currently have a $75.00 target price on the stock.

“We expect 3Q18 revenue growth of 3% y/y with better contribution from OSTK’s marketing and search engine optimization (SEO) efforts starting to stabilize and a significant improvement in sequential non-GAAP loss per share due to a ratcheting down of sales and marketing expenses.”,” the firm’s analyst wrote.

OSTK has been the topic of a number of other reports. GARP Research upgraded shares of Overstock.com from a neutral rating to a buy rating in a report on Thursday, October 4th. ValuEngine downgraded shares of Overstock.com from a buy rating to a hold rating in a report on Friday, September 7th. DA Davidson boosted their target price on shares of Overstock.com from $90.00 to $112.00 and gave the stock a buy rating in a report on Friday, August 10th. Finally, BidaskClub upgraded shares of Overstock.com from a strong sell rating to a sell rating in a report on Tuesday, September 18th. 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 company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $75.00.

Shares of Overstock.com stock traded down $0.22 during trading hours on Wednesday, reaching $20.36. The company’s stock had a trading volume of 1,230,955 shares, compared to its average volume of 2,367,575. Overstock.com has a one year low of $18.99 and a one year high of $89.80. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 0.02. The company has a market cap of $566.27 million, a PE ratio of -11.25 and a beta of 1.86.

In other news, CEO Patrick Byrne sold 147,499 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $25.65, for a total value of $3,783,349.35. Following the sale, the chief executive officer now directly owns 1,050,023 shares in the company, valued at approximately $26,933,089.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carter Paul Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $31.05, for a total transaction of $62,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 927,102 shares of company stock worth $23,964,391. Insiders own 28.90% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. AXA bought a new position in Overstock.com during the 3rd quarter valued at about $1,861,000. National Asset Management Inc. bought a new position in Overstock.com during the 3rd quarter valued at about $210,000. Swiss National Bank grew its holdings in Overstock.com by 33.1% during the 3rd quarter. Swiss National Bank now owns 37,800 shares of the company’s stock valued at $1,047,000 after purchasing an additional 9,400 shares during the last quarter. SG Americas Securities LLC grew its holdings in Overstock.com by 777.6% during the 3rd quarter. SG Americas Securities LLC now owns 63,340 shares of the company’s stock valued at $1,755,000 after purchasing an additional 56,123 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Overstock.com by 20.2% during the 3rd quarter. Penserra Capital Management LLC now owns 439,683 shares of the company’s stock valued at $12,178,000 after purchasing an additional 74,005 shares during the last quarter. Institutional investors own 57.17% of the company’s stock.

Overstock.com Company Profile

Overstock.com, Inc operates as an online retailer in the United States. It operates in two segments, Direct and Partner. The company offers home and garden products, including furniture, home decor, garden and patio, kitchen and dining, bedding, home improvement, housewares, and other related products; jewelry and watches; clothing and accessories; electronics and computers; and other products.

See Also: Price to Earnings Ratio (PE) Basics

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