State Board of Administration of Florida Retirement System Decreases Stake in Qurate Retail, Inc. (NASDAQ:QRTEA)

State Board of Administration of Florida Retirement System reduced its stake in shares of Qurate Retail, Inc. (NASDAQ:QRTEAGet Rating) by 68.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 149,704 shares of the company’s stock after selling 318,193 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Qurate Retail were worth $430,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in QRTEA. Comerica Bank purchased a new stake in shares of Qurate Retail in the 2nd quarter worth about $27,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Qurate Retail in the 1st quarter worth about $29,000. FirstPurpose Wealth LLC purchased a new stake in shares of Qurate Retail in the 2nd quarter worth about $31,000. Profund Advisors LLC purchased a new stake in shares of Qurate Retail in the 2nd quarter worth about $31,000. Finally, Zions Bancorporation N.A. boosted its position in shares of Qurate Retail by 53.0% in the 2nd quarter. Zions Bancorporation N.A. now owns 11,163 shares of the company’s stock worth $32,000 after buying an additional 3,867 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on QRTEA shares. Bank of America lowered shares of Qurate Retail from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $4.00 to $1.20 in a report on Friday, November 4th. StockNews.com upgraded shares of Qurate Retail from a “sell” rating to a “hold” rating in a report on Monday, November 7th. Finally, Citigroup upped their target price on shares of Qurate Retail from $3.00 to $3.60 and gave the company a “neutral” rating in a report on Thursday, August 25th.

Insiders Place Their Bets

In other news, CAO Brian J. Wendling sold 9,268 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $3.20, for a total transaction of $29,657.60. Following the transaction, the chief accounting officer now directly owns 75,316 shares of the company’s stock, valued at $241,011.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.63% of the stock is owned by corporate insiders.

Qurate Retail Stock Performance

Qurate Retail stock opened at $2.00 on Monday. The stock has a 50 day moving average of $2.21 and a 200-day moving average of $2.89. Qurate Retail, Inc. has a 52 week low of $1.50 and a 52 week high of $8.73. The stock has a market cap of $764.42 million, a P/E ratio of -0.28 and a beta of 1.78. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 15.24.

Qurate Retail Profile

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Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through merchandise-focused televised shopping programs, Internet, and mobile applications. It also operates as an online retailer offering women's, children's, and men's apparel; and other products, such as home, accessories, and beauty products through its app, mobile, and desktop applications.

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

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