Laurion Capital Management LP Acquires New Position in Qurate Retail Inc Series A (QRTEA)

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Laurion Capital Management LP acquired a new stake in shares of Qurate Retail Inc Series A (NASDAQ:QRTEA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,442,749 shares of the company’s stock, valued at approximately $51,835,000. Qurate Retail Inc Series A accounts for about 0.4% of Laurion Capital Management LP’s investment portfolio, making the stock its 10th biggest holding. Laurion Capital Management LP owned approximately 0.52% of Qurate Retail Inc Series A at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new stake in Qurate Retail Inc Series A in the second quarter worth $161,000. Weitz Investment Management Inc. purchased a new stake in Qurate Retail Inc Series A in the second quarter worth $37,331,000. Glen Harbor Capital Management LLC purchased a new stake in Qurate Retail Inc Series A in the second quarter worth $5,115,000. IBM Retirement Fund purchased a new stake in Qurate Retail Inc Series A in the second quarter worth $268,000. Finally, Wallace Capital Management Inc. purchased a new stake in Qurate Retail Inc Series A in the second quarter worth $26,131,000. 85.14% of the stock is owned by hedge funds and other institutional investors.

QRTEA has been the subject of a number of research reports. ValuEngine downgraded Qurate Retail Inc Series A from a “sell” rating to a “strong sell” rating in a report on Thursday, August 23rd. Aegis reiterated a “buy” rating and issued a $30.00 price objective on shares of Qurate Retail Inc Series A in a report on Tuesday, August 21st. Citigroup increased their price objective on Qurate Retail Inc Series A from $18.00 to $19.00 and gave the stock a “sell” rating in a report on Friday, August 17th. Zacks Investment Research upgraded Qurate Retail Inc Series A from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Finally, B. Riley decreased their price objective on Qurate Retail Inc Series A from $33.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 22nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $30.60.

In related news, CEO Michael A. George acquired 220,600 shares of the stock in a transaction dated Thursday, August 30th. The shares were purchased at an average cost of $20.40 per share, with a total value of $4,500,240.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.01% of the stock is owned by insiders.

NASDAQ QRTEA opened at $20.80 on Wednesday. Qurate Retail Inc Series A has a one year low of $20.00 and a one year high of $29.11. The stock has a market capitalization of $9.57 billion, a P/E ratio of 6.40, a price-to-earnings-growth ratio of 0.80 and a beta of 1.29. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 1.08.

Qurate Retail Inc Series A (NASDAQ:QRTEA) last announced its earnings results on Wednesday, August 8th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.01). The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Qurate Retail Inc Series A had a return on equity of 21.05% and a net margin of 10.97%. sell-side analysts expect that Qurate Retail Inc Series A will post 2.07 EPS for the current year.

About Qurate Retail Inc Series A

Qurate Retail Group, Inc markets and sells various consumer products primarily through live merchandise-focused televised shopping programs, Websites, and mobile applications. The company's Websites offers home, apparel, beauty, accessories, jewelry, and electronics products. It also operates as an online retailer of women's, children's, and men's apparel, and children's merchandise; and home, beauty, and personalized products, as well as retails its products through catalogs, and retail and outlet stores.

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

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