5 Best Penny Stocks To Buy Now

2. Qurate Retail, Inc. (NASDAQ:QRTEA)

Share Price as of October 21: $2.11

Number of Hedge Fund Holders: 24

Qurate Retail, Inc. (NASDAQ:QRTEA) is a leading American media conglomerate and one of the largest video commerce companies in the world. Qurate Retail, Inc. (NASDAQ:QRTEA) has free cash flows of $198 million and is trading at a PE ratio of 6.21, as of October 21. . The company has a healthy balance sheet and industry-leading position and is one of the best penny stocks to buy now.

Wall Street sees upside to Qurate Retail, Inc. (NASDAQ:QRTEA). On August 25, Citi analyst Jason Bazinet raised his price target on Qurate Retail, Inc. (NASDAQ:QRTEA) to $3.60 from $3 and maintained a Neutral rating on the shares.

At the close of Q2 2022, 24 hedge funds disclosed ownership of stakes in Qurate Retail, Inc. (NASDAQ:QRTEA). The collective stakes of these hedge funds amounted to $201.3 million in the company. As of June 30, FPR Partners is the leading shareholder in Qurate Retail, Inc. (NASDAQ:QRTEA) and has stakes worth more than $57 million in the company.

Here is what Weitz Investment Partners had to say about Qurate Retail, Inc. (NASDAQ:QRTEA) in its second-quarter 2022 investor letter:

“As we describe in our latest “Value Matters,” we believe these are characteristics that allow companies to “make their own breaks,” regardless of the near-term challenges we may face. During the quarter, we sold our remaining shares of Qurate Retail‘s (NASDAQ:QRTEA) common equity but maintain a position in the company’s 8% preferred shares.”