Liberty Interactive Corporation (NASDAQ:QVCA) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $25.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.86% from the company’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.”
Several other equities analysts have also recently weighed in on QVCA. BidaskClub raised Liberty Interactive Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 28th. FBN Securities cut Liberty Interactive Corporation from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 6th. FBR & Co lifted their price objective on Liberty Interactive Corporation from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, July 7th. Maxim Group dropped their price objective on Liberty Interactive Corporation from $39.00 to $37.00 and set a “buy” rating for the company in a report on Friday, July 7th. Finally, Aegis lifted their price objective on Liberty Interactive Corporation from $31.00 to $33.00 and gave the company a “buy” rating in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.89.
In other news, Director Mark C. Vadon sold 796,693 shares of Liberty Interactive Corporation stock in a transaction on Monday, August 14th. The stock was sold at an average price of $22.67, for a total value of $18,061,030.31. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David E. Rapley sold 6,019 shares of Liberty Interactive Corporation stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $21.47, for a total value of $129,227.93. Following the completion of the transaction, the director now owns 10,157 shares in the company, valued at approximately $218,070.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,820,010 shares of company stock worth $62,429,587. Corporate insiders own 10.68% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Liberty Interactive Corporation by 3.8% during the 1st quarter. Vanguard Group Inc. now owns 33,386,058 shares of the company’s stock worth $668,390,000 after acquiring an additional 1,209,952 shares during the last quarter. Dodge & Cox grew its position in Liberty Interactive Corporation by 19.0% during the 2nd quarter. Dodge & Cox now owns 28,349,750 shares of the company’s stock worth $695,703,000 after acquiring an additional 4,527,707 shares during the last quarter. Harris Associates L P grew its position in Liberty Interactive Corporation by 2.6% during the 2nd quarter. Harris Associates L P now owns 24,183,983 shares of the company’s stock worth $593,475,000 after acquiring an additional 618,514 shares during the last quarter. Clearbridge Investments LLC grew its position in Liberty Interactive Corporation by 8.5% during the 1st quarter. Clearbridge Investments LLC now owns 18,010,441 shares of the company’s stock worth $360,569,000 after acquiring an additional 1,413,144 shares during the last quarter. Finally, Makaira Partners LLC grew its position in Liberty Interactive Corporation by 5.5% during the 2nd quarter. Makaira Partners LLC now owns 7,517,833 shares of the company’s stock worth $184,488,000 after acquiring an additional 390,716 shares during the last quarter. Institutional investors own 90.08% of the company’s stock.
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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