Overstock.com Inc (NASDAQ:OSTK) CEO Patrick Michael Byrne sold 500,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $13.09, for a total value of $6,545,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,056,690 shares of the company’s stock, valued at $13,832,072.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
OSTK traded down $1.13 during trading on Wednesday, reaching $11.76. The stock had a trading volume of 84,055 shares, compared to its average volume of 1,932,069. The company has a market capitalization of $453.35 million, a price-to-earnings ratio of -1.93 and a beta of 1.92. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.85. Overstock.com Inc has a 1-year low of $11.65 and a 1-year high of $48.00.
Overstock.com (NASDAQ:OSTK) last released its earnings results on Thursday, May 9th. The company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.25). The firm had revenue of $367.73 million during the quarter, compared to analyst estimates of $360.91 million. Overstock.com had a negative return on equity of 85.28% and a negative net margin of 11.15%. The business’s revenue for the quarter was down 17.4% on a year-over-year basis. During the same quarter last year, the company earned ($1.74) earnings per share.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OSTK. Investors Research Corp acquired a new stake in Overstock.com in the first quarter worth approximately $28,000. NumerixS Investment Technologies Inc bought a new position in shares of Overstock.com in the first quarter valued at $52,000. Pearl River Capital LLC lifted its stake in shares of Overstock.com by 209.7% in the first quarter. Pearl River Capital LLC now owns 4,054 shares of the company’s stock valued at $68,000 after buying an additional 2,745 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Overstock.com by 303.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock valued at $97,000 after buying an additional 5,392 shares in the last quarter. Finally, American International Group Inc. lifted its stake in shares of Overstock.com by 10.4% in the fourth quarter. American International Group Inc. now owns 15,178 shares of the company’s stock valued at $206,000 after buying an additional 1,429 shares in the last quarter. Hedge funds and other institutional investors own 61.31% 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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