Liberty Interactive Corporation (NASDAQ:QVCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Liberty Interactive’s businesses remain susceptible to rapid technological changes. Persistent global economic crisis, foreign currency exchange rate risks and intense competition are other headwinds. Recent global geo-political crisis may negatively affect the company. Notably, the home shopping and Internet retailing market place are getting more competitive day by day. Over the three months, the stock price declined 7% as against the industry's gain of 5.3%. We do not find any near-term driver for the company. However, Liberty Interactive's QVC division is expected to benefit from the surge in online sales and the deal to acquire HSN Inc. The merged entity will result in the third-largest online site. The major thrust is expected to come from the growing adoption of high-end smartphones in the U.S.”
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Liberty Interactive Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. FBR & Co boosted their target price on shares of Liberty Interactive Corporation from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, July 7th. Aegis boosted their target price on shares of Liberty Interactive Corporation from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 7th. ValuEngine upgraded shares of Liberty Interactive Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Finally, FBN Securities lowered shares of Liberty Interactive Corporation from an “outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $29.11.
Shares of Liberty Interactive Corporation (NASDAQ QVCA) opened at 23.19 on Tuesday. The stock has a market capitalization of $10.46 billion, a P/E ratio of 24.08 and a beta of 1.23. The company’s 50 day moving average price is $22.52 and its 200-day moving average price is $22.42. Liberty Interactive Corporation has a 12 month low of $17.24 and a 12 month high of $26.00.
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In related news, Director Mark C. Vadon sold 296,131 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $21.12, for a total value of $6,254,286.72. Following the completion of the transaction, the director now owns 2,030,300 shares of the company’s stock, valued at approximately $42,879,936. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark C. Vadon sold 762,121 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $21.24, for a total transaction of $16,187,450.04. Following the completion of the transaction, the director now directly owns 2,030,300 shares of the company’s stock, valued at approximately $43,123,572. The disclosure for this sale can be found here. Insiders sold a total of 2,342,522 shares of company stock valued at $51,226,271 in the last ninety days. 10.68% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of QVCA. Dodge & Cox boosted its holdings in Liberty Interactive Corporation by 19.0% in the 2nd quarter. Dodge & Cox now owns 28,349,750 shares of the company’s stock worth $695,703,000 after buying an additional 4,527,707 shares during the period. Jana Partners LLC bought a new position in Liberty Interactive Corporation in the 1st quarter worth $59,184,000. Numeric Investors LLC bought a new position in Liberty Interactive Corporation in the 2nd quarter worth $67,939,000. Public Employees Retirement Association of Colorado boosted its holdings in Liberty Interactive Corporation by 2,044.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 1,606,411 shares of the company’s stock worth $39,421,000 after buying an additional 1,531,506 shares during the period. Finally, P Schoenfeld Asset Management LP bought a new position in Liberty Interactive Corporation in the 2nd quarter worth $37,404,000. 88.91% of the stock is owned by institutional investors.
About Liberty Interactive Corporation
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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