Stock Traders Purchase High Volume of Overstock.com Call Options (NASDAQ:OSTK)

Overstock.com, Inc. (NASDAQ:OSTK) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 30,583 call options on the company. This represents an increase of approximately 160% compared to the typical volume of 11,762 call options.

Insider Buying and Selling

In other Overstock.com news, Director William Benjamin Nettles, Jr. acquired 2,052 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $24.68 per share, with a total value of $50,643.36. Following the transaction, the director now owns 10,385 shares in the company, valued at approximately $256,301.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director William Benjamin Nettles, Jr. bought 2,052 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average price of $24.68 per share, for a total transaction of $50,643.36. Following the acquisition, the director now owns 10,385 shares in the company, valued at approximately $256,301.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Joel Weight sold 2,500 shares of Overstock.com stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $36.25, for a total transaction of $90,625.00. Following the sale, the chief technology officer now owns 12,373 shares in the company, valued at $448,521.25. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OSTK. Covestor Ltd lifted its holdings in shares of Overstock.com by 7,081.8% during the 1st quarter. Covestor Ltd now owns 790 shares of the company’s stock worth $35,000 after acquiring an additional 779 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Overstock.com during the second quarter worth approximately $26,000. Captrust Financial Advisors raised its stake in Overstock.com by 308.3% during the first quarter. Captrust Financial Advisors now owns 1,037 shares of the company’s stock worth $46,000 after purchasing an additional 783 shares during the period. Tobam acquired a new position in shares of Overstock.com in the 2nd quarter valued at $34,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Overstock.com during the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Overstock.com Price Performance

NASDAQ OSTK traded down $6.94 during trading hours on Wednesday, reaching $20.49. The company’s stock had a trading volume of 9,293,124 shares, compared to its average volume of 1,894,754. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.94 and a current ratio of 1.97. The company’s 50-day moving average is $30.13 and its two-hundred day moving average is $23.36. Overstock.com has a fifty-two week low of $17.05 and a fifty-two week high of $39.27. The stock has a market cap of $926.15 million, a PE ratio of -7.03 and a beta of 3.61.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Thursday, July 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. The company had revenue of $422.20 million during the quarter, compared to the consensus estimate of $409.64 million. Overstock.com had a negative return on equity of 0.25% and a negative net margin of 8.17%. Overstock.com’s revenue was down 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. Analysts forecast that Overstock.com will post -0.89 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OSTK shares. DA Davidson reduced their target price on shares of Overstock.com from $92.00 to $87.00 in a report on Friday, July 28th. Bank of America increased their price objective on Overstock.com from $24.50 to $35.00 in a research report on Thursday, July 6th. Wedbush reissued an “outperform” rating and issued a $34.00 target price on shares of Overstock.com in a report on Friday, July 21st. Jefferies Financial Group increased their price target on Overstock.com from $19.00 to $32.00 in a report on Friday, June 30th. Finally, Piper Sandler boosted their price objective on shares of Overstock.com from $20.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.86.

About Overstock.com

Overstock.com, Inc operates as an online retailer in the United States. It offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. The company provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.