Old QVC Group, Inc. (NASDAQ:QVCG – Get Free Report) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 265,633 shares, a drop 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 currently 2.3 days.
Insiders Place Their Bets
In other Old QVC Group 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 completion of the transaction, the insider owned 6,301,038 shares in the company, valued at approximately $102,391,867.50. This represents a 20.25% 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 link. Also, major shareholder Goldentree Asset Management Lp acquired 1,600,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $16.25 per share, with a total value of $26,000,000.00. Following the transaction, the insider directly owned 10,991,951 shares of the company’s stock, valued at approximately $178,619,203.75. This trade represents a 17.04% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 2,408,172 shares of company stock worth $39,197,788.
Old QVC Group Trading Down 1.9%
NASDAQ QVCG traded down $0.31 on Tuesday, hitting $16.04. 74,859 shares of the company traded hands, compared to its average volume of 253,461. Old QVC Group has a 52-week low of $14.60 and a 52-week high of $20.00.
About Old QVC Group
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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