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OVERSTOCK.COM, INC : Other Events (form 8-K)

08/17/2021 | 08:35am EDT

Item 8.01 Other Events

On August 17, 2021, Overstock.com, Inc. (the "Company") announced that its Board of Directors has approved a stock repurchase program (the "Repurchase Program"), pursuant to which the Company may, from time to time, purchase shares of its outstanding common stock for an aggregate repurchase price not to exceed $100 million at any time through December 31, 2023.

Repurchases under the Repurchase Program may be effected through open market purchases (which may include repurchase plans designed to comply with Rule 10b5-1).

The Repurchase Committee designated by the Board of Directors will determine the actual timing, number, and value of any shares repurchased under the Repurchase Program in its discretion using factors such as, but not limited to, stock price, trading volume, general market conditions, and the ongoing assessment of the Company's capital needs. There is no assurance of the number or aggregate price of any shares that the Company will repurchase. The Repurchase Program may be extended, suspended, or terminated at any time by the Board of Directors.

This Current Report on Form 8-K contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements about whether or how the Company may repurchase shares under the repurchase program or how many shares, if any, the Company may repurchase. Additional information regarding factors that could materially affect results and the Company's ability or willingness to repurchase any shares may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 26, 2021, our Form 10-Q for the quarter ended March 31, 2021 which was filed with the SEC on May 6, 2021, our Form 10-Q for the quarter ended June 30, 2021 which was filed with the SEC on August 5, 2021, and in our subsequent filings with the SEC. There also may be additional risks that the Company does not presently know about or that it currently believes are immaterial that could also impair its business or results of operations and could adversely affect the Company's ability or willingness to repurchase any shares. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

© Edgar Online, source Glimpses

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Analyst Recommendations on OVERSTOCK.COM, INC.
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Financials (USD)
Sales 2021 2 830 M - -
Net income 2021 115 M - -
Net cash 2021 512 M - -
P/E ratio 2021 31,9x
Yield 2021 0,10%
Capitalization 3 600 M 3 600 M -
EV / Sales 2021 1,09x
EV / Sales 2022 0,93x
Nbr of Employees 1 750
Free-Float 91,5%
Duration : Period :
Overstock.com, Inc. Technical Analysis Chart | OSTK | US6903701018 | MarketScreener
Technical analysis trends OVERSTOCK.COM, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 7
Last Close Price 83,69 $
Average target price 122,50 $
Spread / Average Target 46,4%
EPS Revisions
Managers and Directors
Jonathan E. Johnson Chief Executive Officer & Director
Adrianne B. Lee Chief Financial Officer
Allison H. Abraham Chairman
Joel G. Weight Chief Technology Officer
Ron Hilton Chief Operations & Merchandising Officer
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