Qurate Retail, Inc. (NASDAQ:QRTEA) Sees Large Drop in Short Interest

Qurate Retail, Inc. (NASDAQ:QRTEA) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totalling 5,420,000 shares, a drop of 17.4% from the June 30th total of 6,560,000 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 5,730,000 shares, the days-to-cover ratio is presently 0.9 days.

Qurate Retail Trading Up 2.4 %

Shares of NASDAQ:QRTEA traded up $0.02 during mid-day trading on Tuesday, hitting $0.73. 2,012,723 shares of the company traded hands, compared to its average volume of 4,108,300. The firm’s 50 day simple moving average is $0.70 and its 200 day simple moving average is $0.91. The company has a debt-to-equity ratio of 12.97, a quick ratio of 0.89 and a current ratio of 1.33. Qurate Retail has a 52-week low of $0.40 and a 52-week high of $1.80.

Qurate Retail (NASDAQ:QRTEA) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.04 earnings per share for the quarter. Qurate Retail had a negative net margin of 1.56% and a positive return on equity of 23.19%. The business had revenue of $2.34 billion during the quarter.

Institutional Investors Weigh In On Qurate Retail

A number of institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Qurate Retail by 37.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,986,921 shares of the company’s stock worth $13,121,000 after purchasing an additional 4,119,957 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Qurate Retail by 28.7% during the 1st quarter. Acadian Asset Management LLC now owns 5,950,168 shares of the company’s stock valued at $7,316,000 after buying an additional 1,327,990 shares during the last quarter. Brigade Capital Management LP raised its stake in Qurate Retail by 249.4% during the fourth quarter. Brigade Capital Management LP now owns 2,917,578 shares of the company’s stock worth $2,554,000 after acquiring an additional 2,082,561 shares during the period. Norden Group LLC lifted its holdings in Qurate Retail by 2,346.2% in the first quarter. Norden Group LLC now owns 367,978 shares of the company’s stock worth $453,000 after acquiring an additional 352,935 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Qurate Retail by 3,892.6% during the first quarter. BNP Paribas Financial Markets now owns 204,543 shares of the company’s stock valued at $252,000 after purchasing an additional 199,420 shares during the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Qurate Retail from a “hold” rating to a “sell” rating in a report on Monday.

Qurate Retail Company Profile

Qurate Retail, Inc, together with its subsidiaries, engages in the video and online commerce industries in North America, Europe, and Asia. The company markets and sells various consumer products primarily through merchandise-focused televised shopping programs, Internet, and mobile applications. It also operates as an online retailer offering women's, children's, and men's apparel; and other products, such as home, accessories, and beauty products through its app, mobile, and desktop applications.