Zacks Investment Research upgraded shares of Liberty Interactive (NASDAQ:QVCA) from a hold rating to a strong-buy rating in a research note released on Tuesday. The brokerage currently has $31.00 price target on the stock.
According to Zacks, “Shares of Liberty Interactive have rallied 22.8% outperforming the industry’s growth of 15.9%, in the past six months. Ushering in furher good news, the company reported better-than-expected earnings and revenues in the fourth quarter of 2017. Growth was witnessed across all major segments. Moreover, the buyout of HSN has boosted the company’s online portfolio. Its QVC unit, now the third-largest online site, has benefitted from the surge in online sales with growing adoption of high-end smartphones in the U.S. We are also positive on the company's expansion efforts. In the reported quarter, the QVC International segment accounted for almost 28% of QVC's revenues. However, Liberty Interactive’s operations remain susceptible to adverse foreign currency movements and rapid technological changes.”
A number of other brokerages have also recently commented on QVCA. Aegis reaffirmed a buy rating and issued a $38.00 price target (up from $35.00) on shares of Liberty Interactive in a research note on Tuesday, February 27th. BidaskClub raised Liberty Interactive from a buy rating to a strong-buy rating in a research note on Saturday, February 24th. KeyCorp upped their price target on Liberty Interactive from $28.00 to $31.00 and gave the company an overweight rating in a research note on Friday, January 26th. FBN Securities cut Liberty Interactive from an outperform rating to a sector perform rating in a research note on Friday, March 2nd. Finally, Bank of America lowered their price target on Liberty Interactive from $39.00 to $36.00 and set a buy rating for the company in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $32.10.
In related news, Director Malcolm Ian Grant Gilchrist sold 3,765 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $26.38, for a total transaction of $99,320.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.68% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. bought a new stake in Liberty Interactive during the 4th quarter worth approximately $159,000. Icon Wealth Partners LLC bought a new stake in Liberty Interactive during the 4th quarter worth approximately $191,000. Itau Unibanco Holding S.A. increased its stake in Liberty Interactive by 846.5% during the 4th quarter. Itau Unibanco Holding S.A. now owns 8,490 shares of the company’s stock worth $207,000 after purchasing an additional 7,593 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Liberty Interactive during the 4th quarter worth approximately $247,000. Finally, Nokomis Capital L.L.C. bought a new stake in Liberty Interactive during the 4th quarter worth approximately $259,000. 86.86% of the stock is owned by institutional investors and hedge funds.
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About Liberty Interactive
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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