Overstock.com Inc (OSTK) CEO Patrick Michael Byrne Sells 500,000 Shares

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.

Several equities analysts have recently issued reports on the company. BidaskClub downgraded Overstock.com from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 30th. DA Davidson cut their target price on Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.67.

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.

WARNING: “Overstock.com Inc (OSTK) CEO Patrick Michael Byrne Sells 500,000 Shares” was originally posted by WKRB News and is the sole property of of WKRB News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.wkrb13.com/2019/05/15/overstock-com-inc-ostk-ceo-patrick-michael-byrne-sells-500000-shares.html.

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.

Featured Article: How to interpret the current ratio

Insider Buying and Selling by Quarter for Overstock.com (NASDAQ:OSTK)

Receive News & Ratings for Overstock.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Overstock.com and related companies with MarketBeat.com's FREE daily email newsletter.