Qurate Retail, Inc. (NASDAQ:QRTEA) Shares Sold by Citigroup Inc.

Citigroup Inc. lowered its stake in shares of Qurate Retail, Inc. (NASDAQ:QRTEA – Get Rating) by 11.9% during the fourth quarter, Holdings Channel reports. The fund owned 1,373,338 shares of the company’s stock after selling 184,618 shares during the quarter. Citigroup Inc.’s holdings in Qurate Retail were worth $2,239,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in QRTEA. WINTON GROUP Ltd acquired a new stake in Qurate Retail in the 3rd quarter worth about $26,000. SG Americas Securities LLC acquired a new position in shares of Qurate Retail in the 4th quarter valued at about $26,000. Point72 Hong Kong Ltd acquired a new position in shares of Qurate Retail in the 3rd quarter valued at about $28,000. Greenleaf Trust acquired a new position in shares of Qurate Retail in the 4th quarter valued at about $29,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Qurate Retail in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

Wall Street Analyst Weigh In

QRTEA has been the topic of several research analyst reports. Citigroup reduced their price objective on Qurate Retail to $1.30 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. StockNews.com initiated coverage on Qurate Retail in a research note on Thursday, May 18th. They issued a “sell” rating on the stock.

Qurate Retail Stock Performance

Shares of NASDAQ:QRTEA opened at $0.88 on Thursday. The company has a market cap of $335.85 million, a P/E ratio of -0.13 and a beta of 1.91. The company has a debt-to-equity ratio of 8.39, a quick ratio of 1.13 and a current ratio of 1.72. Qurate Retail, Inc. has a one year low of $0.67 and a one year high of $4.23. The business’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.60.

Qurate Retail (NASDAQ:QRTEA – Get Rating) last announced its earnings results on Wednesday, March 1st. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.19). The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Qurate Retail had a negative net margin of 21.70% and a negative return on equity of 1.68%. The business’s quarterly revenue was down 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 earnings per share. On average, sell-side analysts forecast that Qurate Retail, Inc. will post 0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Qurate Retail news, CEO David Rawlinson sold 89,300 shares of Qurate Retail stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $0.92, for a total transaction of $82,156.00. Following the sale, the chief executive officer now directly owns 372,004 shares in the company, valued at approximately $342,243.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 117,500 shares of company stock worth $108,100 in the last three months. 11.63% of the stock is owned by insiders.

About Qurate Retail

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Qurate Retail, Inc engages in the business of video and online commerce industries. It operates through the following segments: QxH, QVC International and CBI. The QxH segment markets and sells a wide variety of consumer products in the U.S., primarily by means of its televised shopping programs and via the Internet through their websites and mobile applications.