Fifth Third Bancorp Boosts Stake in Overstock.com Inc (OSTK)

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Fifth Third Bancorp grew its position in shares of Overstock.com Inc (NASDAQ:OSTK) by 250.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Fifth Third Bancorp’s holdings in Overstock.com were worth $194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OSTK. InterOcean Capital LLC bought a new stake in Overstock.com during the third quarter valued at about $212,000. Allianz Asset Management GmbH boosted its position in Overstock.com by 5.4% during the third quarter. Allianz Asset Management GmbH now owns 2,024,515 shares of the company’s stock valued at $56,079,000 after purchasing an additional 103,975 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its position in Overstock.com by 1,533.3% during the third quarter. Prime Capital Investment Advisors LLC now owns 24,500 shares of the company’s stock valued at $679,000 after purchasing an additional 23,000 shares in the last quarter. North Fourth Asset Management LP bought a new stake in Overstock.com during the third quarter valued at about $6,310,000. Finally, GoodHaven Capital Management LLC bought a new stake in Overstock.com during the third quarter valued at about $975,000. Hedge funds and other institutional investors own 61.20% of the company’s stock.

Shares of NASDAQ OSTK opened at $12.74 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.01 and a current ratio of 1.09. Overstock.com Inc has a fifty-two week low of $12.33 and a fifty-two week high of $89.80.

Overstock.com (NASDAQ:OSTK) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($1.55) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.69). The business had revenue of $440.60 million during the quarter, compared to analyst estimates of $443.13 million. Overstock.com had a negative return on equity of 105.90% and a negative net margin of 14.21%. Overstock.com’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) EPS. Equities analysts predict that Overstock.com Inc will post -6.19 EPS for the current fiscal year.

Several equities research analysts have weighed in on OSTK shares. GARP Research started coverage on Overstock.com in a report on Thursday, September 6th. They issued a “neutral” rating for the company. ValuEngine downgraded Overstock.com from a “buy” rating to a “hold” rating in a report on Friday, September 7th. Maxim Group started coverage on Overstock.com in a report on Monday, September 10th. They issued a “buy” rating and a $75.00 price target for the company. BidaskClub downgraded Overstock.com from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded Overstock.com from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.00.

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About Overstock.com

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; artisan-crafted products; and other products.

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

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