Liberty Interactive Corporation (NASDAQ:QVCA) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Tuesday. The brokerage currently has a $25.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 11.81% from the stock’s current price.
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.”
A number of other equities analysts have also weighed in on the company. ValuEngine upgraded Liberty Interactive Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Citigroup Inc. lowered Liberty Interactive Corporation from a “neutral” rating to a “sell” rating and decreased their price target for the company from $27.00 to $22.00 in a research report on Thursday, September 28th. DA Davidson assumed coverage on Liberty Interactive Corporation in a research report on Wednesday, September 13th. They set a “buy” rating and a $33.00 price objective for the company. Craig Hallum set a $28.00 price objective on Liberty Interactive Corporation and gave the stock a “buy” rating in a research report on Monday, July 10th. Finally, BidaskClub lowered Liberty Interactive Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 11th. One 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. Liberty Interactive Corporation presently has an average rating of “Buy” and an average price target of $28.89.
Liberty Interactive Corporation (NASDAQ:QVCA) opened at 22.36 on Tuesday. The firm has a market cap of $10.09 billion, a P/E ratio of 23.22 and a beta of 1.25. The company has a 50-day moving average of $22.88 and a 200 day moving average of $22.85. Liberty Interactive Corporation has a 52 week low of $17.24 and a 52 week high of $26.00.
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In related news, Director Mark C. Vadon sold 762,121 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $21.24, for a total value of $16,187,450.04. Following the transaction, the director now directly owns 2,030,300 shares of the company’s stock, valued at approximately $43,123,572. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark C. Vadon sold 796,693 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $22.67, for a total value of $18,061,030.31. The disclosure for this sale can be found here. Insiders have sold a total of 3,500,007 shares of company stock valued at $77,892,719 over the last ninety days. Company insiders own 10.68% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake in shares of Liberty Interactive Corporation by 1.1% in the 2nd quarter. Global X Management Co. LLC now owns 6,036 shares of the company’s stock valued at $148,000 after acquiring an additional 67 shares in the last quarter. Comerica Bank raised its stake in shares of Liberty Interactive Corporation by 0.3% in the 1st quarter. Comerica Bank now owns 22,510 shares of the company’s stock valued at $481,000 after acquiring an additional 72 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Liberty Interactive Corporation by 0.8% in the 2nd quarter. Capstone Asset Management Co. now owns 11,378 shares of the company’s stock valued at $279,000 after acquiring an additional 90 shares in the last quarter. Financial Architects Inc raised its stake in shares of Liberty Interactive Corporation by 2.3% in the 2nd quarter. Financial Architects Inc now owns 7,269 shares of the company’s stock valued at $179,000 after acquiring an additional 162 shares in the last quarter. Finally, Waldron LP raised its stake in shares of Liberty Interactive Corporation by 1.2% in the 1st quarter. Waldron LP now owns 24,920 shares of the company’s stock valued at $498,000 after acquiring an additional 295 shares in the last quarter. 90.08% of the stock is currently owned by institutional investors and hedge funds.
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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