FPR Partners LLC recently announced the acquisition of new stake in Qurate Retail Inc (NASDAQ:QRTEA). The institutional investor has increased its shareholding in the Consumer Cyclical company by 7.09% to 30.2 million shares with purchase of 2.0 million shares. This fresh investment now brings its stake to 7.95% valued currently at $13.32 million. In addition, D. E. Shaw & Co. LP raised its holdings by 4.43 million to 18.21 million shares. And Charles Schwab Investment Managem has lifted its position by 39.27% or 3.06 million shares – to 10.87 million shares.
With over 6.21 million Qurate Retail Inc (QRTEA) shares trading Monday and a closing price of $0.96 on the day, the dollar volume was approximately $5.96 million. The shares have shown a positive half year performance of 3.09% and its price on 12/04/23 gained nearly 4.57%. Currently, there are 374.39M common shares owned by the public and among those 349.27M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for QRTEA have a consensus price objective of $0.60. The analysts have set the share’s price value over the next 12 months at a high of $0.60 and a low of $0.60. The average price target is -60.0% below its recent price level and a downside to the estimated low will see the stock lose -60.0% over that period. But a downside of -60.0% will see the stock hit the forecast high price target while median target price for the stock is $0.60.
Insiders at the company have transacted a total of 17 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 548,402 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 225,995 shares.
The top 3 mutual fund holders in Qurate Retail Inc are Contrarius ICAV – Global Equity F, Vanguard Total Stock Market ETF, and Government Pension Fund – Global. Contrarius ICAV – Global Equity F owns 32.22 million shares of the company’s stock, all valued at over $14.21 million. The company bought an additional 32.22 million shares recently to bring their total holdings to about 8.48% of the shares outstanding. Vanguard Total Stock Market ETF sold -0.17 million shares to see its total holdings shrink to 10.68 million shares valued at over $4.71 million and representing 2.81% of the shares outstanding. Government Pension Fund – Global bought 2.98 million shares to bring its total holdings to over 6.33 million shares at a value of $2.79 million. Government Pension Fund – Global now owns shares totaling to 1.67% of the shares outstanding.
Shares of Qurate Retail Inc (NASDAQ: QRTEA) opened at $0.8501, down -$0.06 from a prior closing price of $0.91. However, the script later moved the day high at 0.9696, up 4.57%. The company’s stock has a 5-day price change of 12.45% and 26.26% over the past three months. QRTEA shares are trading -41.33% year to date (YTD), with the 12-month market performance down to -59.47% lower. It has a 12-month low price of $0.40 and touched a high of $2.84 over the same period. QRTEA has an average intraday trading volume of 6.73 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 34.16%, 62.62%, and 7.67% respectively.
Institutional ownership of Qurate Retail Inc (NASDAQ: QRTEA) shares accounts for 69.53% of the company’s 374.39M shares outstanding. Mutual fund holders own 46.41%, while other institutional holders and individual stakeholders account for 9.27% and 25.33% respectively.
It has a market capitalization of $372.42M and a beta (3y monthly) value of 2.57. The stock’s trailing 12-month PE ratio is 4.88, while the earnings-per-share (ttm) stands at $0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 16.88% over the week and 13.31% over the month.
Analysts forecast that Qurate Retail Inc (QRTEA) will achieve an EPS of $0.13 for the current quarter, $0 for the next quarter and $0.26 for 2024. The lowest estimate earnings-per-share for the quarter is $0.13 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was -$0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 109.16%, and 8.87% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Qurate Retail Inc (QRTEA) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the QRTEA, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on November 04, 2022, with the firm’s price target at $4-$1.20.
