Weitz Investment: “Qurate Retail (QRTEA), A ‘Stay-at-Home’ Winner”

Weitz Investment Management, an investment management firm, published its “Partners III Opportunity Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.06% was recorded by the fund in the third quarter of 2021, compared to +0.58% for the S&P 500 and -0.10% for the Russell 3000 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Weitz Investment Management Partners III Opportunity Fund, in its Q3 2021 investor letter, mentioned Qurate Retail, Inc. (NASDAQ: QRTEA) and discussed its stance on the firm. Qurate Retail, Inc. is a Douglas County, Colorado-based e-commerce services provider with a $3.4 billion market capitalization. QRTEA delivered a -22.33% return since the beginning of the year, while its 12-month returns are down by -14.29%. The stock closed at $8.52 per share on November 19, 2021.

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Qurate Retail, Inc. in its Q3 2021 investor letter:

“Another quarterly detractor, Qurate Retail, was a “stay-at-home” winner through much of the pandemic thanks to its video and eCommerce shopping model. As economies reopen, competition from brick-and-mortar stores will increase, but we continue to like Qurate’s unique retail model and unassuming valuation.”

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Based on our calculations, Qurate Retail, Inc. (NASDAQ: QRTEA) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. QRTEA was in 39 hedge fund portfolios at the end of the first half of 2021, compared to 31 funds in the previous quarter. Qurate Retail, Inc. (NASDAQ: QRTEA) delivered a -18.78% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.