Penserra Capital Management LLC Has $6.64 Million Position in Overstock.com Inc (NASDAQ:OSTK)

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Penserra Capital Management LLC lowered its position in shares of Overstock.com Inc (NASDAQ:OSTK) by 7.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 627,130 shares of the company’s stock after selling 51,126 shares during the quarter. Penserra Capital Management LLC owned 1.78% of Overstock.com worth $6,639,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in OSTK. Captrust Financial Advisors acquired a new stake in shares of Overstock.com during the 2nd quarter worth about $41,000. TRUE Private Wealth Advisors purchased a new position in shares of Overstock.com during the 2nd quarter worth about $44,000. Joseph P. Lucia & Associates LLC purchased a new position in shares of Overstock.com during the 2nd quarter worth about $45,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Overstock.com by 78.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,655 shares of the company’s stock worth $50,000 after acquiring an additional 1,608 shares during the period. Finally, Advisor Group Inc. lifted its holdings in shares of Overstock.com by 22.1% during the 2nd quarter. Advisor Group Inc. now owns 4,162 shares of the company’s stock worth $56,000 after acquiring an additional 754 shares during the period. Institutional investors own 49.66% of the company’s stock.

OSTK has been the topic of several recent analyst reports. BidaskClub lowered shares of Overstock.com from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th. Maxim Group set a $40.00 price target on shares of Overstock.com and gave the company a “buy” rating in a report on Monday, August 26th. Zacks Investment Research upgraded shares of Overstock.com from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, October 30th. DA Davidson cut their price target on shares of Overstock.com from $48.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Finally, ValuEngine upgraded shares of Overstock.com from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Overstock.com has an average rating of “Buy” and a consensus price target of $25.67.

NASDAQ:OSTK traded up $0.05 during trading hours on Wednesday, hitting $7.55. The stock had a trading volume of 979,488 shares, compared to its average volume of 3,615,886. Overstock.com Inc has a 1-year low of $7.25 and a 1-year high of $29.75. The company has a current ratio of 0.72, a quick ratio of 0.68 and a debt-to-equity ratio of 0.25. The company has a market cap of $267.54 million, a PE ratio of -1.22 and a beta of 2.24. The business has a 50 day simple moving average of $9.40 and a two-hundred day simple moving average of $13.74.

Overstock.com (NASDAQ:OSTK) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.25). Overstock.com had a negative return on equity of 65.78% and a negative net margin of 8.90%. The company had revenue of $347.10 million for the quarter, compared to analyst estimates of $376.21 million. During the same period in the previous year, the business posted ($1.55) EPS. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. Research analysts expect that Overstock.com Inc will post -2.84 EPS for the current fiscal year.

In related news, major shareholder Patrick Michael Byrne sold 1,056,690 shares of Overstock.com stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $16.32, for a total transaction of $17,245,180.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.40% of the stock is owned by insiders.

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.

Further Reading: How is diluted EPS different from basic EPS?

Institutional Ownership by Quarter for Overstock.com (NASDAQ:OSTK)

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