Shares of Overstock.com, Inc. (NASDAQ:OSTK – Get Rating) have been assigned a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $50.60.
Several brokerages have recently issued reports on OSTK. Piper Sandler reduced their target price on shares of Overstock.com to $35.00 in a research note on Tuesday, November 1st. Argus assumed coverage on shares of Overstock.com in a report on Thursday, October 20th. They set a “hold” rating for the company. Jefferies Financial Group started coverage on Overstock.com in a research note on Friday, January 13th. They issued a “hold” rating and a $20.00 price target on the stock. Guggenheim restated a “neutral” rating on shares of Overstock.com in a research report on Tuesday, October 4th. Finally, StockNews.com initiated coverage on Overstock.com in a report on Wednesday, October 12th. They issued a “hold” rating for the company.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Overstock.com by 25.3% during the third quarter. BlackRock Inc. now owns 4,480,659 shares of the company’s stock valued at $109,105,000 after purchasing an additional 905,863 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Overstock.com by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,194,008 shares of the company’s stock valued at $102,123,000 after purchasing an additional 212,866 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Overstock.com by 9.1% during the 2nd quarter. William Blair Investment Management LLC now owns 3,435,587 shares of the company’s stock valued at $85,924,000 after purchasing an additional 286,609 shares in the last quarter. Simcoe Capital Management LLC lifted its holdings in shares of Overstock.com by 74.3% during the 2nd quarter. Simcoe Capital Management LLC now owns 2,457,435 shares of the company’s stock valued at $61,460,000 after purchasing an additional 1,047,525 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Overstock.com by 2.4% during the 2nd quarter. State Street Corp now owns 1,049,581 shares of the company’s stock valued at $26,250,000 after purchasing an additional 24,612 shares in the last quarter. Institutional investors and hedge funds own 62.13% of the company’s stock.
Overstock.com Stock Down 2.2 %
Overstock.com (NASDAQ:OSTK – Get Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The business had revenue of $460.28 million for the quarter, compared to analysts’ expectations of $491.20 million. Overstock.com had a return on equity of 5.65% and a net margin of 0.62%. On average, analysts predict that Overstock.com will post 0.57 earnings per share for the current year.
Overstock.com, Inc operates online shopping commercial site. It also sells these products through www.overstock.com, www.o.com, and www.o.biz. It operates through the following business segments: Retail, tZERO, and MVI. The Retail Segment engages in e-commerce sales through its website. The tZERO Segment focuses on securities transaction through its broker-dealers.
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