Old QVC Group (NASDAQ:QVCG) Stock: Insider Silver Point Capital, L.P. Sells 1,352,000 Shares

Old QVC Group, Inc. (NASDAQ:QVCG) major shareholder Silver Point Capital, L.P. sold 1,352,000 shares of the firm’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $12.35, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Old QVC Group Stock Performance

Shares of NASDAQ:QVCG traded down $0.75 on Wednesday, reaching $10.43. 156,413 shares of the company’s stock were exchanged, compared to its average volume of 340,624. The business has a 50-day simple moving average of $15.13. Old QVC Group, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $20.00.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Old QVC Group to a “hold” rating in a report 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.