Citigroup Inc., one of the world’s largest financial institutions, has increased its holdings in Qurate Retail, Inc. by 47.2% in the first quarter of this year. According to the company’s recent Form 13F filing with the Securities & Exchange Commission, Citigroup now owns 2,021,213 shares of Qurate Retail’s stock after acquiring an additional 647,875 shares during that period. This move has brought Citigroup’s ownership stake in Qurate Retail to approximately 0.53%, with a value of $1,997,000 as per their latest SEC filing.
Qurate Retail (NASDAQ:QRTEA) recently released its quarterly earnings data on August 4th. The company reported an EPS (earnings per share) of ($0.03) for the quarter and generated $2.65 billion in revenue during that time frame. It is important to note that Qurate Retail had a negative net margin of 23.10% and a negative return on equity of 13.97%. Despite these numbers, research analysts remain optimistic about the company’s future prospects and anticipate that Qurate Retail will post an EPS of 0.05 for the current fiscal year.
Qurate Retail, Inc., along with its subsidiaries, operates within the video and online commerce industries across North America, Europe, and Asia. The company primarily markets consumer products through televised shopping programs, internet platforms, and mobile applications. Additionally, it serves as an online retailer offering a wide range of products including apparel for women, children, and men; as well as home accessories and beauty products through various digital mediums such as apps and desktop applications.
With Citigroup increasing its holdings in Qurate Retail and positive expectations from research analysts regarding the company’s future performance, it will be interesting to see how this impacts both entities moving forward into the second half of the fiscal year.
In conclusion,Citigroup’s increased investment in Qurate Retail, Inc. demonstrates the financial institution’s confidence in the company’s potential. While Qurate Retail faced certain challenges with negative net margin and return on equity in its recent earnings report, research analysts predict a positive EPS for the current fiscal year. As Qurate Retail continues to operate within the online and video commerce industries worldwide, consumers can expect to see a wide array of products available across various digital platforms.
Institutional Investors Make Significant Changes to Holdings of Qurate Retail: Evaluating the Investment Opportunity
As of September 7, 2023, several institutional investors have made significant changes to their holdings of Qurate Retail, a company in the retail industry. Notably, Millennium Management LLC saw a substantial increase of 187.6% in its holdings during the fourth quarter. This surge resulted in Millennium Management LLC now owning approximately 13,492,955 shares of Qurate Retail’s stock, with a value of around $21,994,000. To achieve this growth, they purchased an additional 8,802,070 shares in the last quarter.
Another institutional investor that modified its holdings is FPR Partners LLC. They also showed an increase of 18.3% during the fourth quarter and currently own approximately 25,899,302 shares valued at $42,216,000. Similarly to Millennium Management LLC’s strategy, FPR Partners LLC purchased an additional 4,010,000 shares during that time.
Notably, Norges Bank acquired a new stake in Qurate Retail in the fourth quarter with an approximate value of $5,230,000. This move shows Norges Bank’s confidence in the company and its potential for growth.
State Street Corp also made adjustments to their holdings by increasing them by 35.0% during the second quarter. As a result of this modification, State Street Corp now owns about 9,938,499 shares valued at $28.,523,,000. They achieved this increase by purchasing an additional 2.,575,,888 shares.
Finally,, Renaissance Technologies LLC has also joined the group of institutional investors that have changed their holdings of Qurate Retail recently . During the first quarter , Renaissance Technologies acquired a new stake worth roughly $11 ,240 ,000 .
In total , institutional investors currently hold about 72 .53 % of Qurate Retail ‘s stock .
Moving on to QRTEA ‘s performance on Thursday , it opened at $0.71 . The stock has a market capitalization of $275.11 million and possesses a P/E ratio of -0.10 , indicating its profitability or lack thereof . With regard to its risk level , QRTEA ‘s beta stands at 2.00 , suggesting it is relatively more volatile than the overall market .
Over the past 12 months , Qurate Retail’s stock has experienced fluctuations in value with a low of $0.67 and a high of $3.19 . This price volatility may be a cause for concern for some investors considering its potential impact on their portfolios.
When examining QRTEA ‘s moving averages, we see that the fifty-day simple moving average currently stands at $0.94 while the two-hundred-day simple moving average sits slightly higher at $1.01 . These figures provide another perspective on the stock’s performance trend over time added a sense of perplexity to investors.
Regarding the company’s financial health, QRTEA boasts a current ratio of 1.57 and quick ratio of 1.,08 . These liquidity ratios indicate that Qurate Retail should have sufficient short-term assets to cover its commitments and meet operational needs.
However, it is essential to note that Qurate Retail’s debt-to-equity ratio stands at 7.,25 which suggests a relatively high level of debt compared to equity . This could potentially raise concerns about the company’s ability to manage its debt obligations comfortably.
Analysts have also weighed in on QRTEA ‘s prospects, with Citigroup recently lifting their target price from $0.,90 to $1.,10 while maintaining a “neutral” rating for the stock . Similarly,, StockNews.com initiated coverage on Qurate Retail and assigned it a “hold” rating in their research report issued on August 17th .
Overall, these recent modifications by institutional investors, coupled with fluctuating stock prices and varying analyst opinions, contribute to the complexity of evaluating Qurate Retail as an investment opportunity . Potential investors should thoroughly analyze the company’s financials, market position, and growth prospects before making any investment decisions.
Source: beststocks.com
