State Board of Administration of Florida Retirement System cut its position in Qurate Retail, Inc. (NASDAQ:QRTEA) by 12.3% in the second quarter, HoldingsChannel.com reports. The firm owned 589,847 shares of the company’s stock after selling 82,547 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Qurate Retail were worth $7,721,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in shares of Qurate Retail during the first quarter worth about $46,000. Pinebridge Investments L.P. grew its stake in shares of Qurate Retail by 86.6% during the first quarter. Pinebridge Investments L.P. now owns 5,614 shares of the company’s stock worth $66,000 after acquiring an additional 2,606 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Qurate Retail during the second quarter worth about $71,000. Belpointe Asset Management LLC purchased a new stake in shares of Qurate Retail during the second quarter worth about $107,000. Finally, XTX Topco Ltd purchased a new stake in shares of Qurate Retail during the first quarter worth about $129,000. Institutional investors and hedge funds own 85.40% of the company’s stock.
Shares of NASDAQ QRTEA opened at $10.23 on Tuesday. The business’s 50 day moving average price is $11.18 and its 200 day moving average price is $12.18. The firm has a market cap of $4.17 billion, a P/E ratio of 3.04 and a beta of 1.96. Qurate Retail, Inc. has a 52 week low of $6.47 and a 52 week high of $14.62. The company has a quick ratio of 0.68, a current ratio of 1.01 and a debt-to-equity ratio of 1.35.
In other Qurate Retail news, CEO Michael A. George sold 150,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,412,929 shares in the company, valued at approximately $30,185,741.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.65% of the stock is owned by corporate insiders.
Separately, Zacks Investment Research lowered Qurate Retail from a “hold” rating to a “sell” rating in a research note on Thursday, July 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.25.
Qurate Retail Company Profile
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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