Shikiar Asset Management, Inc. recently announced the acquisition of new stake in Qurate Retail Inc. (NASDAQ:QRTEP). The institutional investor has increased its shareholding in the Consumer Cyclical company by 114.29% to 13500.0 shares with purchase of 7200.0 shares. This fresh investment now brings its stake to 0.11% valued currently at $0.46 million.
With over 0.4 million Qurate Retail Inc. (QRTEP) shares trading Monday and a closing price of $41.30 on the day, the dollar volume was approximately $16.62 million. The shares have shown a negative half year performance of -22.73% and its price on 01/23/23 gained nearly 3.20%. Currently, there are 12.51M common shares owned by the public and among those 11.34M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for QRTEP have a consensus price objective of $1.55. The analysts have set the share’s price value over the next 12 months at a high of $1.90 and a low of $1.20. The average price target is -2564.52% below its recent price level and a downside to the estimated low will see the stock lose -3341.67% over that period. But a downside of -2073.68% will see the stock hit the forecast high price target while median target price for the stock is $1.55.
The top 3 mutual fund holders in Qurate Retail Inc. are iShares Preferred & Income Securi, Invesco Preferred ETF, and Global X US Preferred ETF. iShares Preferred & Income Securi owns 0.95 million shares of the company’s stock, all valued at over $32.49 million. Invesco Preferred ETF sold 65.0 shares to see its total holdings shrink to 0.53 million shares valued at over $18.27 million and representing 4.21% of the shares outstanding. Global X US Preferred ETF now owns shares totaling to 1.83% of the shares outstanding.
Shares of Qurate Retail Inc. (NASDAQ: QRTEP) opened at $41.31, up $1.29 from a prior closing price of $40.02. However, the script later moved the day high at 42.32, up 3.20%. The company’s stock has a 5-day price change of -3.39% and -9.21% over the past three months. QRTEP shares are trading 20.55% year to date (YTD), with the 12-month market performance down to -59.98% lower. It has a 12-month low price of $32.00 and touched a high of $103.65 over the same period. QRTEP has an average intraday trading volume of 62.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.23%, 5.82%, and -23.89% respectively.
Institutional ownership of Qurate Retail Inc. (NASDAQ: QRTEP) shares accounts for 27.23% of the company’s 12.51M shares outstanding. Mutual fund holders own 25.14%, while other institutional holders and individual stakeholders account for 9.20% and -24.93% respectively.
It has a market capitalization of $817.19M. The stock’s trailing 12-month PE ratio is 124.40, while the earnings-per-share (ttm) stands at $0.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.26% over the week and 5.04% over the month.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”