Old QVC Group, Inc. (NASDAQ:QVCG – Get Free Report) major shareholder Silver Point Capital, L.P. sold 1,352,000 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $12.35, for a total value of $16,697,200.00. Following the completion of the sale, the insider owned 4,949,038 shares in the company, valued at approximately $61,120,619.30. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Old QVC Group Trading Down 6.7%
Shares of QVCG stock traded down $0.75 during midday trading on Wednesday, reaching $10.43. 156,413 shares of the company were exchanged, compared to its average volume of 340,624. Old QVC Group, Inc. has a 12 month low of $10.20 and a 12 month high of $20.00. The business has a 50 day simple moving average of $15.13.
Analyst Ratings Changes
Separately, Wall Street Zen upgraded shares of Old QVC Group to a “hold” rating in a research note on Saturday, September 19th.
About Old QVC Group
Old QVC Group is a multimedia retail company focused on selling consumer products through television shopping networks, e-commerce platforms and other digital channels. Its principal brands include QVC and HSN, which offer merchandise such as apparel, beauty products, home goods, electronics, jewelry and lifestyle products.
The company uses televised programming, websites, mobile applications, streaming video and social media to present products, provide demonstrations and engage customers.
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