Old QVC Group, Inc. (NASDAQ:QVCG – Get Free Report) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 265,633 shares, a decline of 47.4% from the August 15th total of 505,343 shares. Based on an average trading volume of 117,318 shares, the short-interest ratio is presently 2.3 days.
Old QVC Group Price Performance
Shares of Old QVC Group stock remained flat at $15.92 on Wednesday. The stock had a trading volume of 157,595 shares, compared to its average volume of 280,882. Old QVC Group has a 1-year low of $14.60 and a 1-year high of $20.00.
Insiders Place Their Bets
In other news, major shareholder Silver Point Capital L.P. sold 1,600,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $16.25, for a total value of $26,000,000.00. Following the sale, the insider directly owned 6,301,038 shares in the company, valued at approximately $102,391,867.50. This trade represents a 20.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Goldentree Asset Management Lp bought 1,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $16.25 per share, with a total value of $26,000,000.00. Following the completion of the acquisition, the insider owned 10,991,951 shares of the company’s stock, valued at $178,619,203.75. This trade represents a 17.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 2,408,172 shares of company stock worth $39,197,788 in the last ninety days.
Old QVC Group Company Profile
Old QVC Group (NASDAQ:QVCG) is a video and livestream commerce company whose operations center on QVC and HSN. The company combines television shopping, online retail, mobile applications and social commerce to offer products directly to consumers. Its merchandise generally includes apparel, beauty products, home goods, electronics, jewelry and other consumer products.
QVC Group traces its history to QVC, which was founded in 1986, and HSN, an earlier home-shopping network established in 1977.
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