FPR Partners LLC has recently announced that it has increased stake in Qurate Retail Inc (NASDAQ:QRTEA) by 8.88%. After grabbing 28.2 million shares, the institutional investor is now in possession of 2.3 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 7.42% having worth around $17.12 million. Moreover, D. E. Shaw & Co. LP increased its share by 1.55 million to have a control over 15.34 million shares. And Charles Schwab Investment Managem raised its holdings to 3.06 million shares by acquiring 10.87 million shares or 2.86% of the stake.
Qurate Retail Inc (QRTEA) concluded trading on 11/15/23 at a closing price of $0.65, with 5.48 million shares of worth about $3.56 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -39.98% during that period and on Wednesday the price saw a gain of about 2.18%. Currently the company’s common shares owned by public are about 374.39M shares, out of which, 349.25M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the QRTEA stock and their offered price forecasts bring an average price target of $0.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $0.60 and could fall to a lowest price of $0.50. The stock’s current price level is -18.18% below of average price target set by the analysts, while a dip to estimated low would result in loss of -30.0% for the stock. However, touching the estimated high of $0.60 would mean a loss of -8.33% 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 17 times over the past 12 months. They bought 548,402 shares in 11 of the transactions. In 6 selling transactions, insiders dumped 225,995 shares.
Contrarius ICAV – Global Equity F, Vanguard Total Stock Market ETF, and Government Pension Fund – Global are the top 3 mutual funds which are holding stakes in Qurate Retail Inc Contrarius ICAV – Global Equity F is currently holding 32.22 million shares of worth totaling $19.56 million. The company recently came buying 32.22 million shares which brought its stake up to 8.48% of the company’s outstanding shares. Government Pension Fund – Global, after buying 6.33 million shares, have now control over 1.67% of the stake in the company. It holds 2.98 million shares of worth $3.84 million.
However, the stock later moved at a day high price of 0.7099, or with a gain of 2.18%. Stock saw a price change of 2.71% in past 5 days and over the past one month there was a price change of 13.64%. Year-to-date (YTD), QRTEA shares are showing a performance of -60.23% which decreased to -67.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.40 but also hit the highest price of $2.84 during that period. The average intraday trading volume for Qurate Retail Inc shares is 6.85 million. The stock is currently trading 20.88% above its 20-day simple moving average (SMA20), while that difference is up 16.55% for SMA50 and it goes to -34.70% lower than SMA200.
FPR Partners LLC acquired 28.2 million shares of Qurate Retail Inc having value of about $17.12 million. Data submitted at the U.S SEC by FPR Partners LLC revealed that the firm now holds 2.3 million shares in the company valued at close to $1495000.0, or have control over 8.88% stake in the company. Qurate Retail Inc (NASDAQ: QRTEA) currently have 374.39M outstanding shares and institutions hold larger chunk of about 69.25% of that. Holding of mutual funds in the company is about 50.12% while other institutional holders and individual stake holders have control over 9.28% and 25.31% of the stake respectively.
The stock has a current market capitalization of $252.41M and its 3Y-monthly beta is at 2.33. PE ratio of stock for trailing 12 months is 3.31, while it has posted earnings per share of $0.20 in the same period. It has Quick Ratio of 0.92 while making debt-to-equity ratio of 12.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for QRTEA, volatility over the week remained 9.57% while standing at 11.07% over the month.
Analysts are in expectations that Qurate Retail Inc (QRTEA) stock would likely to be making an EPS of $0.13 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.13 which is $0.13 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 -$0.05 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 107.95% while it is estimated to decrease by -13.31% in next year.
Analysts at 2 brokerage firms have issued recommendations for the Qurate Retail Inc (QRTEA)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.50. Out of those 2 Wall Street analysts, 0 recommended a “Buy” rating, while 1 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 BofA Securities on November 04, 2022 offering an Underperform rating for the stock and assigned a target price range of between $4 and $1.20 to it.
