Passport Capital LLC acquired a new stake in shares of Overstock.com Inc (NASDAQ:OSTK) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 520,498 shares of the company’s stock, valued at approximately $18,868,000. Overstock.com makes up approximately 25.1% of Passport Capital LLC’s portfolio, making the stock its 2nd largest position.
A number of other large investors have also recently modified their holdings of OSTK. Ladenburg Thalmann Financial Services Inc. grew its stake in Overstock.com by 113.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,990 shares of the company’s stock valued at $191,000 after acquiring an additional 1,590 shares in the last quarter. Delpha Capital Management LLC bought a new stake in Overstock.com during the first quarter valued at approximately $201,000. LPL Financial LLC bought a new stake in Overstock.com during the fourth quarter valued at approximately $208,000. SG Americas Securities LLC bought a new stake in Overstock.com during the first quarter valued at approximately $223,000. Finally, Bank of Montreal Can lifted its position in Overstock.com by 347.9% during the fourth quarter. Bank of Montreal Can now owns 4,479 shares of the company’s stock valued at $286,000 after purchasing an additional 3,479 shares during the last quarter. 59.03% of the stock is owned by institutional investors.
Several brokerages have issued reports on OSTK. BidaskClub upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a research report on Wednesday. TheStreet lowered shares of Overstock.com from a “c-” rating to a “d” rating in a research report on Tuesday, March 20th. ValuEngine upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Overstock.com from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 21st. Finally, DA Davidson dropped their target price on shares of Overstock.com from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, March 19th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $100.00.
Overstock.com traded down $0.15, hitting $38.05, during mid-day trading on Thursday, Marketbeat reports. 2,681 shares of the company traded hands, compared to its average volume of 2,915,272. Overstock.com Inc has a one year low of $14.30 and a one year high of $89.80. The firm has a market cap of $1.03 billion, a PE ratio of -21.27 and a beta of 1.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.42 and a quick ratio of 1.36.
Overstock.com (NASDAQ:OSTK) last announced its quarterly earnings data on Thursday, March 15th. The company reported ($2.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($2.68). The business had revenue of $456.29 million during the quarter, compared to the consensus estimate of $526.18 million. Overstock.com had a negative return on equity of 69.29% and a negative net margin of 8.81%. research analysts anticipate that Overstock.com Inc will post -4.5 earnings per share for the current year.
In other news, SVP Carter Paul Lee sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $35.80, for a total value of $71,600.00. Following the completion of the sale, the senior vice president now directly owns 8,735 shares in the company, valued at approximately $312,713. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Paul Knab sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $37.95, for a total transaction of $56,925.00. Following the completion of the sale, the senior vice president now owns 8,689 shares of the company’s stock, valued at $329,747.55. The disclosure for this sale can be found here. Insiders own 24.20% 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.
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