Passport Capital LLC acquired a new position in Overstock.com Inc (NASDAQ:OSTK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 520,498 shares of the company’s stock, valued at approximately $18,868,000. Overstock.com accounts for about 25.1% of Passport Capital LLC’s portfolio, making the stock its 2nd largest position. Passport Capital LLC owned 1.80% of Overstock.com as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Overstock.com by 150.4% in the first quarter. LPL Financial LLC now owns 8,139 shares of the company’s stock worth $295,000 after purchasing an additional 4,889 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Overstock.com by 662.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,801 shares of the company’s stock worth $826,000 after purchasing an additional 19,811 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Overstock.com by 93.7% in the first quarter. Allianz Asset Management GmbH now owns 1,744,410 shares of the company’s stock worth $63,235,000 after purchasing an additional 843,959 shares in the last quarter. Amplify Investments LLC purchased a new position in shares of Overstock.com in the first quarter worth about $5,918,000. Finally, Firsthand Capital Management Inc. purchased a new position in shares of Overstock.com in the first quarter worth about $1,450,000. Hedge funds and other institutional investors own 59.03% of the company’s stock.
Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Overstock.com from a “sell” rating to a “hold” rating in a research note on Wednesday. TheStreet downgraded shares of Overstock.com from a “c-” rating to a “d” rating in a research note on Tuesday, March 20th. ValuEngine upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Overstock.com from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 21st. Finally, DA Davidson reduced 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 note on Monday, March 19th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Overstock.com 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 stock traded hands, compared to its average volume of 2,915,272. The stock has a market cap of $1.03 billion, a P/E ratio of -21.27 and a beta of 1.65. Overstock.com Inc has a 12-month low of $14.30 and a 12-month high of $89.80. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.16.
Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings data on Thursday, March 15th. The company reported ($2.71) EPS for the quarter, missing the consensus estimate of ($0.03) by ($2.68). The firm had revenue of $456.29 million for the quarter, compared to analysts’ expectations of $526.18 million. Overstock.com had a negative net margin of 8.81% and a negative return on equity of 69.29%. equities analysts forecast that Overstock.com Inc will post -4.5 earnings per share for the current fiscal year.
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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