Morgan Stanley Investment Managem.. has recently announced that it has increased stake in Overstock.com Inc. (NASDAQ:OSTK) by 33.72%. After grabbing 4.85 million shares, the institutional investor is now in possession of 1.22 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 12.03% having worth around $366.63 million. Moreover, BlackRock Fund Advisors increased its share by 2.51 million to have a control over 2.51 million shares. And Allianz Global Investors U.S. LLC raised its holdings to 29495.0 shares by acquiring 1.9 million shares or 4.71% of the stake.
Overstock.com Inc. (OSTK) concluded trading on 08/27/20 at a closing price of $95.99, with 12.5 million shares of worth about $1.2 billion changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -21.53% during that period and on Thursday the price saw a loss of about -12.35%. Currently the company’s common shares owned by public are about 40.33M shares, out of which, 38.17M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 3 analysts are covering the OSTK stock and their offered price forecasts bring an average price target of $121.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $140.00 and could fall to a lowest price of $103.00. Analysts also issued an outlook of 2.00 for the Overstock.com Inc. stock for next 12 months. The stock’s current price level is 21.0% above of average price target set by the analysts, while a rise to estimated low would result in gain of 6.81 for the stock. However, touching the estimated high of $140.00 would mean a gain of 31.44% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 97 times over the past 12 months. They bought 188,753 shares in 51 of the transactions. In 46 selling transactions, insiders dumped 3,245,786 shares.
Morgan Stanley Insight Fund, Vanguard Total Stock Market Index, and SMDAM Global AI Equity Mother Fun are the top 3 mutual funds which are holding stakes in Overstock.com Inc. Morgan Stanley Insight Fund is currently holding 1.43 million shares of worth totaling $108.23 million. The company recently came buying 0.0 shares which brought its stake up to 3.55% of the company’s outstanding shares. Vanguard Total Stock Market Index sold 14651.0 shares, after which its hold over company’s outstanding shares shrunk to 2.71%, leaving 1.09 million shares with the mutual fund that have a worth of about $82.54 million. SMDAM Global AI Equity Mother Fun, after selling 1.04 million shares, have now control over 2.57% of the stake in the company. It holds -0.4 million shares of worth $78.46 million.
Overstock.com Inc. (NASDAQ: OSTK) started trading at $107.35, below -$2.17 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $95.99, or with a loss of -12.35%. Stock saw a price change of -21.53% in past 5 days and over the past one month there was a price change of 58.03%. Year-to-date (YTD), OSTK shares are showing a performance of 1261.56% which increased to 466.31% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.53 but also hit the highest price of $128.50 during that period. While comparing its average daily trading volume of 5.50 million shares, we see that about 12.5 million changed hands on the day. The stock is currently trading -4.56% below its 20-day simple moving average (SMA20), while that difference is up 48.67% for SMA50 and it goes to 309.22% higher than SMA200.
Morgan Stanley Investment Managem.. acquired 4.85 million shares of Overstock.com Inc. having value of about $366.63 million. Data submitted at the U.S SEC by Morgan Stanley Investment Managem.. revealed that the firm now holds 1.22 million shares in the company valued at close to $117400761.48, or have control over 33.72% stake in the company. Overstock.com Inc. (NASDAQ: OSTK) currently have 40.33M outstanding shares and institutions hold larger chunk of about 59.30% of that. Holding of mutual funds in the company is about 32.65% while other institutional holders and individual stake holders have control over 34.05% and 29.34% of the stake respectively.
The stock has a current market capitalization of $4.12B and its 3Y-monthly beta is at 4.66. It has posted earnings per share of -$1.15 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.33. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for OSTK, volatility over the week remained 11.63% while standing at 12.50% over the month.
Analysts are in expectations that Overstock.com Inc. (OSTK) stock would likely to be making an EPS of -$0.25 in the current quarter, while forecast for next quarter ESPS is -$0.14 and it is $0.17 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.26 which is -$0.24 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.87 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 49.40% while it is estimated to increase by 94.44% in next year. EPS is likely to grow at an annualized rate of 5.00% for next 5-years, compared to annual growth of -63.00% made by the stock over the past 5-years.
Analysts at 3 brokerage firms have issued recommendations for the Overstock.com Inc. (OSTK)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 3 Wall Street analysts, 3 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on August 17, 2020 offering an Overweight rating for the stock and assigned a target price of $140 to it. Coverage by DA Davidson stated Overstock.com Inc. (OSTK) stock as a Buy in their note to investors on July 02, 2020, suggesting a price target of $66 for the stock. On August 09, 2019, Maxim Group Reiterated their recommendations, while on July 16, 2019, Maxim Group Resumed their ratings for the stock with a price target of $34. Stock get a Buy rating from Maxim Group on September 10, 2018.