Liberty Interactive Group (NASDAQ:QVCA) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Liberty Interactive’s businesses are susceptible to rapid technological changes. Ongoing economic crisis in the European countries and its rippling effect on the U.S. economy may result in a prolonged economic slump, reflecting lower disposable income in the hands of consumers. This situation may significantly jeopardize Liberty Interactive’s future financial results. Further, increased exposure to international markets also brings foreign exchange risks to the company. However, we expect Liberty Interactive to maintain its growth momentum in the rest of 2016 through gradual expansion of its presence in developed markets such as Japan, Germany, Italy and the U.K. The company is also optimistic about its operations in China where recent data shows a sharp uptrend in online sales.”
A number of other research firms have also recently weighed in on QVCA. FBR & Co reaffirmed an “outperform” rating and set a $31.00 price target on shares of Liberty Interactive Group in a report on Tuesday, May 17th. Wunderlich reaffirmed a “buy” rating and set a $38.00 price target on shares of Liberty Interactive Group in a report on Monday, May 9th. Axiom Securities raised their price target on Liberty Interactive Group from $33.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, May 11th. Finally, Maxim Group began coverage on Liberty Interactive Group in a report on Thursday, June 9th. They set a “buy” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Liberty Interactive Group presently has a consensus rating of “Buy” and an average price target of $31.75.
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Shares of Liberty Interactive Group (NASDAQ:QVCA) traded down 2.37% during midday trading on Thursday, hitting $18.52. The stock had a trading volume of 15,860,474 shares. Liberty Interactive Group has a one year low of $18.42 and a one year high of $28.71. The firm’s 50-day moving average price is $22.34 and its 200-day moving average price is $24.93. The firm has a market capitalization of $8.82 billion, a PE ratio of 15.22 and a beta of 1.22.
Liberty Interactive Group (NASDAQ:QVCA) last released its quarterly earnings results on Friday, August 5th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Liberty Interactive Group had a return on equity of 11.64% and a net margin of 5.93%. On average, equities analysts predict that Liberty Interactive Group will post $1.02 EPS for the current year.
In related news, Director David E. Rapley sold 6,019 shares of Liberty Interactive Group stock in a transaction on Monday, August 29th. The stock was sold at an average price of $21.09, for a total transaction of $126,940.71. Following the completion of the sale, the director now directly owns 16,046 shares of the company’s stock, valued at $338,410.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael A. George sold 150,000 shares of Liberty Interactive Group stock in a transaction on Monday, July 11th. The stock was sold at an average price of $26.24, for a total value of $3,936,000.00. Following the sale, the director now directly owns 1,081,179 shares of the company’s stock, valued at $28,370,136.96. The disclosure for this sale can be found here. Corporate insiders own 10.78% of the company’s stock.
Several large investors have recently made changes to their positions in QVCA. Vanguard Group Inc. raised its position in Liberty Interactive Group by 0.3% in the second quarter. Vanguard Group Inc. now owns 20,503,926 shares of the company’s stock valued at $520,184,000 after buying an additional 60,599 shares in the last quarter. Brahman Capital Corp. raised its position in Liberty Interactive Group by 2.4% in the second quarter. Brahman Capital Corp. now owns 10,716,035 shares of the company’s stock valued at $271,866,000 after buying an additional 250,000 shares in the last quarter. Macquarie Group Ltd. raised its position in Liberty Interactive Group by 2.3% in the fourth quarter. Macquarie Group Ltd. now owns 10,690,344 shares of the company’s stock valued at $292,060,000 after buying an additional 239,015 shares in the last quarter. Artisan Partners Limited Partnership raised its position in Liberty Interactive Group by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 7,512,289 shares of the company’s stock valued at $190,587,000 after buying an additional 54,466 shares in the last quarter. Finally, Senator Investment Group LP raised its position in Liberty Interactive Group by 21.1% in the second quarter. Senator Investment Group LP now owns 5,750,000 shares of the company’s stock valued at $145,878,000 after buying an additional 1,000,000 shares in the last quarter. 87.69% of the stock is owned by institutional investors and hedge funds.
About Liberty Interactive Group
Liberty Interactive Corporation (Liberty) owns interests in subsidiaries and other companies, which are engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its businesses and assets include its consolidated subsidiaries QVC, Inc (QVC), Backcountry.com, Inc (Backcountry), Bodybuilding.com, LLC (Bodybuilding), CommerceHub and Evite, Inc (Evite) and its equity affiliates Expedia, Inc (Expedia), HSN, Inc (HSN), FTD Companies, Inc (FTD), Interval Leisure Group, Inc (Interval Leisure Group) and LendingTree, Inc (LendingTree).
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