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How Liberty Interactive Corp (QVCA) Stacks Up Against Its Peers

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Is Liberty Interactive Corp (NASDAQ:QVCA) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It’s not surprising given that hedge funds have access to better information and more resources to find the latest market-moving information.

Liberty Interactive Corp (NASDAQ:QVCA) was in 77 hedge funds’ portfolios at the end of the third quarter of 2016. QVCA shareholders have witnessed an increase in enthusiasm from smart money of late. There were 75 hedge funds in our database with QVCA holdings at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Nucor Corporation (NYSE:NUE), Smith & Nephew plc (ADR) (NYSE:SNN), and Concho Resources Inc. (NYSE:CXO) to gather more data points.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

Liberty Media LMCA LMCB Liberty Interactive QVCA QVC internet woman laptop tree greeting decoration Christmas Shopping

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Keeping this in mind, we’re going to check out the fresh action encompassing Liberty Interactive Corp (NASDAQ:QVCA).

How have hedgies been trading Liberty Interactive Corp (NASDAQ:QVCA)?

At the end of the third quarter, a total of 77 of the hedge funds tracked by Insider Monkey held long positions in this stock, a 3% uptick from one quarter earlier. Hedge fund ownership of the stock has been volatile over the past several quarters, with shares being held by between 67 and 79 hedge funds. With the smart money’s sentiment swirling, there exists a few noteworthy hedge fund managers who were boosting their stakes substantially (or already accumulated large positions).

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According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, FPR Partners, managed by Bob Peck and Andy Raab, holds the biggest position in Liberty Interactive Corp (NASDAQ:QVCA). FPR Partners has a $536.5 million position in the stock, comprising 12.1% of its 13F portfolio. The second largest stake is held by D E Shaw, founded by David E. Shaw, which holds a $178.9 million position. Some other members of the smart money that hold long positions comprise Curtis Macnguyen’s Ivory Capital (Investment Mgmt) and Thomas Bancroft’s Makaira Partners.

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