Old QVC Group (NASDAQ:QVCG) Shares Down 7% – What’s Next?

Shares of Old QVC Group, Inc. (NASDAQ:QVCG – Get Free Report) were down 7% during trading on Thursday. The company traded as low as $7.41 and last traded at $7.71. 91,209 shares changed hands during trading, a decline of 63% from the average session volume of 248,246 shares. The stock had previously closed at $8.29.

Analyst Ratings Changes

QVCG has been the topic of several recent analyst reports. Weiss Ratings assumed coverage on Old QVC Group in a report on Monday. They set a “sell (e+)” rating on the stock. Wall Street Zen raised Old QVC Group to a “hold” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

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Old QVC Group Trading Down 2.2%

The company has a fifty day moving average price of $12.67.

Insider Buying and Selling at Old QVC Group

In other news, major shareholder Silver Point Capital, L.P. sold 1,352,000 shares of the company’s stock in a transaction 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 transaction, the insider directly owned 4,949,038 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Also, major shareholder Goldentree Asset Management Lp acquired 1,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were purchased 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 represents a 17.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 4,095,951 shares of company stock worth $60,584,169 and have sold 3,677,224 shares worth $54,622,172.

About Old QVC Group

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