Qurate Retail, Inc. (NASDAQ:QRTEA – Get Free Report) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 13,170,000 shares, a decline of 67.6% from the June 15th total of 40,610,000 shares. Based on an average daily trading volume, of 9,480,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 3.8% of the shares of the stock are short sold.
Analysts Set New Price Targets
Several analysts have weighed in on QRTEA shares. Citigroup lowered their price objective on Qurate Retail to $1.30 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. StockNews.com began coverage on Qurate Retail in a report on Thursday, May 18th. They set a “sell” rating for the company.
Qurate Retail Stock Down 7.8 %
Shares of NASDAQ QRTEA traded down $0.09 during trading on Friday, reaching $1.07. The company had a trading volume of 3,405,435 shares, compared to its average volume of 9,265,346. Qurate Retail has a 12-month low of $0.67 and a 12-month high of $4.23. The stock has a market cap of $415.83 million, a PE ratio of -0.16 and a beta of 1.96. The business’s 50-day moving average is $0.98 and its 200 day moving average is $1.34. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 8.39.
Qurate Retail (NASDAQ:QRTEA – Get Free Report) last released its quarterly earnings data on Friday, May 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Qurate Retail had a negative net margin of 21.70% and a negative return on equity of 1.68%. The business had revenue of $2.64 billion for the quarter. As a group, equities analysts forecast that Qurate Retail will post 0.2 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Qurate Retail
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Qurate Retail in the second quarter valued at about $539,000. Ameriprise Financial Inc. lifted its holdings in Qurate Retail by 6.2% in the first quarter. Ameriprise Financial Inc. now owns 17,301,615 shares of the company’s stock valued at $17,091,000 after acquiring an additional 1,004,980 shares during the period. JPMorgan Chase & Co. lifted its holdings in Qurate Retail by 23.8% in the first quarter. JPMorgan Chase & Co. now owns 921,461 shares of the company’s stock valued at $910,000 after acquiring an additional 177,033 shares during the period. Thrivent Financial for Lutherans bought a new position in Qurate Retail in the first quarter valued at about $605,000. Finally, State Street Corp lifted its holdings in Qurate Retail by 29.1% in the first quarter. State Street Corp now owns 13,922,251 shares of the company’s stock valued at $13,752,000 after acquiring an additional 3,140,478 shares during the period. 78.70% of the stock is owned by hedge funds and other institutional investors.
About Qurate Retail
Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through merchandise-focused televised shopping programs, Internet, and mobile applications. It also operates as an online retailer offering women’s, children’s, and men’s apparel; and other products, such as home, accessories, and beauty products through its app, mobile, and desktop applications.