US Bancorp DE Trims Stake in Qurate Retail, Inc. (NASDAQ:QRTEA)

US Bancorp DE lowered its stake in Qurate Retail, Inc. (NASDAQ:QRTEA) by 24.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 5,059 shares of the company’s stock after selling 1,615 shares during the period. US Bancorp DE’s holdings in Qurate Retail were worth $67,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Los Angeles Capital Management LLC lifted its stake in Qurate Retail by 1,287.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 438,738 shares of the company’s stock valued at $5,743,000 after buying an additional 407,120 shares in the last quarter. Euclidean Technologies Management LLC lifted its stake in shares of Qurate Retail by 18.1% during the 2nd quarter. Euclidean Technologies Management LLC now owns 23,398 shares of the company’s stock worth $306,000 after purchasing an additional 3,578 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Qurate Retail during the 2nd quarter worth $71,000. Envestnet Asset Management Inc. lifted its stake in shares of Qurate Retail by 0.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 295,540 shares of the company’s stock worth $3,869,000 after purchasing an additional 2,320 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Qurate Retail by 28.3% during the 2nd quarter. LSV Asset Management now owns 6,458,000 shares of the company’s stock worth $84,535,000 after purchasing an additional 1,425,100 shares during the period. 85.40% of the stock is currently owned by hedge funds and other institutional investors.

QRTEA stock opened at $10.23 on Tuesday. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 3.04 and a beta of 1.96. The company has a quick ratio of 0.68, a current ratio of 1.01 and a debt-to-equity ratio of 1.35. The business has a fifty day simple moving average of $11.18 and a 200-day simple moving average of $12.18. Qurate Retail, Inc. has a 52 week low of $6.47 and a 52 week high of $14.62.

Qurate Retail (NASDAQ:QRTEA) last released its quarterly earnings data on Friday, August 6th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.39 billion. Qurate Retail had a return on equity of 35.75% and a net margin of 9.76%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. As a group, analysts expect that Qurate Retail, Inc. will post 2.25 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered Qurate Retail from a “hold” rating to a “sell” rating in a research note on Thursday, July 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.

In related news, CEO Michael A. George sold 150,000 shares of the stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $12.51, for a total value of $1,876,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,412,929 shares in the company, valued at approximately $30,185,741.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.65% of the stock is currently owned by corporate insiders.

About Qurate Retail

Qurate Retail, Inc engages in the business of video and on-line commerce industries. It operates through the following segments: QxH; QVC International; and Corporate and Others. The QxH segment include distribution of live programming, 20 hours per day, 364 days per year, to television households. The QVC International segment focuses in Germany, Austria, Japan, the U.K., the Republic of Ireland, and Italy to distribute shopping experience via broadcast networks, websites, mobile applications, and social pages.

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Institutional Ownership by Quarter for Qurate Retail (NASDAQ:QRTEA)

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