Liberty Interactive Corporation (QVCA) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Liberty Interactive Corporation (NASDAQ:QVCA) from a sell rating to a buy rating in a research note released on Tuesday. They currently have $25.00 price target on the stock.
According to Zacks, “Liberty Interactive’s QVC division continues to benefit from the surge in online sales. The major thrust is expected to come from the growing adoption of high-end smartphones in the U.S. QVC is gradually expanding its presence in developed international markets such as Japan, Germany, Italy, and the U.K., which will enable QVC to achieve a high rate of growth. Liberty Interactive is also highly optimistic about its operations in China. We believe the $2.1 billion stock purchase deal to acquire HSN Inc. should be beneficial for Liberty Interactive. However, Liberty Interactive’s businesses remian susceptible to rapid technological changes. Persistent global economic crisis, foreign currency exchange rate risks and intense competition are other headwinds. Over the past three months, the stock price declined 4.3% as against the industry's 0.1% gain.”
Several other brokerages also recently issued reports on QVCA. BidaskClub raised shares of Liberty Interactive Corporation from a buy rating to a strong-buy rating in a research note on Wednesday, June 28th. ValuEngine raised shares of Liberty Interactive Corporation from a hold rating to a buy rating in a research note on Monday, August 7th. Citigroup Inc. lowered shares of Liberty Interactive Corporation from a neutral rating to a sell rating and reduced their target price for the stock from $27.00 to $22.00 in a research report on Thursday, September 28th. FBR & Co raised their target price on shares of Liberty Interactive Corporation from $26.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, July 7th. Finally, Aegis raised their target price on shares of Liberty Interactive Corporation from $31.00 to $33.00 and gave the stock a buy rating in a research report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $28.89.
Shares of Liberty Interactive Corporation (NASDAQ:QVCA) traded up 0.31% on Tuesday, reaching $22.31. The company had a trading volume of 2,340,888 shares. Liberty Interactive Corporation has a 52 week low of $17.24 and a 52 week high of $26.00. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 23.17 and a beta of 1.25. The stock’s 50 day moving average is $22.93 and its 200 day moving average is $22.87.
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In related news, Director Mark C. Vadon sold 481,558 shares of Liberty Interactive Corporation stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $22.00, for a total transaction of $10,594,276.00. Following the transaction, the director now directly owns 2,030,300 shares of the company’s stock, valued at $44,666,600. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David E. Rapley sold 6,019 shares of Liberty Interactive Corporation stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $21.47, for a total transaction of $129,227.93. Following the transaction, the director now directly owns 10,157 shares in the company, valued at $218,070.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,625,007 shares of company stock worth $80,657,719. 10.68% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in QVCA. Dodge & Cox boosted its stake in Liberty Interactive Corporation by 19.0% in the second quarter. Dodge & Cox now owns 28,349,750 shares of the company’s stock valued at $695,703,000 after acquiring an additional 4,527,707 shares in the last quarter. Jana Partners LLC acquired a new stake in Liberty Interactive Corporation in the first quarter valued at approximately $59,184,000. Numeric Investors LLC acquired a new stake in Liberty Interactive Corporation in the second quarter valued at approximately $67,939,000. Public Employees Retirement Association of Colorado boosted its stake in Liberty Interactive Corporation by 2,044.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,606,411 shares of the company’s stock valued at $39,421,000 after acquiring an additional 1,531,506 shares in the last quarter. Finally, P Schoenfeld Asset Management LP acquired a new stake in Liberty Interactive Corporation in the second quarter valued at approximately $37,404,000. Institutional investors own 90.08% of the company’s stock.
Liberty Interactive Corporation Company Profile
Liberty Interactive Corporation owns interests in subsidiaries and other companies, which are primarily engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its principal businesses and assets include its subsidiaries QVC, Inc (QVC), zulily, llc (zulily) and and Evite, Inc (Evite).
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