Liberty Interactive Corp. (LVNTA) Sees Large Decline in Short Interest
Liberty Interactive Corp. (NASDAQ:LVNTA) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 2,655,263 shares, a drop of 35.7% from the October 31st total of 4,130,508 shares. Based on an average daily trading volume, of 1,354,397 shares, the days-to-cover ratio is presently 2.0 days.
LVNTA has been the topic of several research analyst reports. Evercore ISI initiated coverage on Liberty Interactive Corp. in a research note on Monday, November 7th. They set a “buy” rating and a $51.00 price objective on the stock. FBR & Co restated a “buy” rating and set a $45.00 price objective on shares of Liberty Interactive Corp. in a research note on Wednesday, November 9th. Zacks Investment Research cut Liberty Interactive Corp. from a “buy” rating to a “sell” rating in a research note on Tuesday, October 25th. Finally, Pivotal Research raised their target price on Liberty Interactive Corp. from $53.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, November 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Liberty Interactive Corp. currently has a consensus rating of “Buy” and an average price target of $48.40.
In related news, Director Mark C. Vadon sold 151,074 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $20.90, for a total transaction of $3,157,446.60. Following the transaction, the director now directly owns 3,251,374 shares in the company, valued at $67,953,716.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark C. Vadon sold 80,000 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $20.59, for a total value of $1,647,200.00. Following the transaction, the director now owns 3,251,374 shares in the company, valued at $66,945,790.66. The disclosure for this sale can be found here.
A number of hedge funds have recently made changes to their positions in the stock. Springbok Capital Management LLC boosted its stake in shares of Liberty Interactive Corp. by 14.1% in the first quarter. Springbok Capital Management LLC now owns 2,579 shares of the company’s stock worth $101,000 after buying an additional 319 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Liberty Interactive Corp. by 930.4% in the second quarter. Mutual of America Capital Management LLC now owns 2,916 shares of the company’s stock worth $108,000 after buying an additional 2,633 shares during the period. US Bancorp DE boosted its stake in shares of Liberty Interactive Corp. by 5.3% in the second quarter. US Bancorp DE now owns 3,328 shares of the company’s stock worth $124,000 after buying an additional 169 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Liberty Interactive Corp. during the third quarter worth $156,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Liberty Interactive Corp. by 14.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,260 shares of the company’s stock worth $170,000 after buying an additional 536 shares during the period. Hedge funds and other institutional investors own 90.18% of the company’s stock.
Liberty Interactive Corp. (NASDAQ:LVNTA) opened at 39.02 on Thursday. The company’s 50-day moving average price is $39.67 and its 200-day moving average price is $38.80. Liberty Interactive Corp. has a 12-month low of $29.37 and a 12-month high of $41.74. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 7.92 and a beta of 1.06.
Liberty Interactive Corp. Company Profile
Liberty Interactive Corporation (Liberty) owns interests in subsidiaries and other companies, which are engaged in the video and online commerce industries. Through its subsidiaries and affiliates, the Company operates in North America, Europe and Asia. Its businesses and assets include its consolidated subsidiaries QVC, Inc (QVC), Backcountry.com, Inc (Backcountry), Bodybuilding.com, LLC (Bodybuilding), CommerceHub and Evite, Inc (Evite) and its equity affiliates Expedia, Inc (Expedia), HSN, Inc (HSN), FTD Companies, Inc (FTD), Interval Leisure Group, Inc (Interval Leisure Group) and LendingTree, Inc (LendingTree).
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