Old QVC Group (NASDAQ:QVCG) Stock Price Down 7% – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Old QVC Group to a “hold” rating in a research report on Saturday, September 19th. Weiss Ratings began coverage on shares of Old QVC Group in a research report on Monday. They issued a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

View Our Latest Stock Analysis on QVCG

Old QVC Group Stock Performance

The firm has a 50 day moving average price of $12.84.

Insider Activity at Old QVC Group

In other news, major shareholder Silver Point Capital L.P. sold 1,600,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $16.25, for a total transaction of $26,000,000.00. Following the completion of the sale, the insider owned 6,301,038 shares in the company, valued at approximately $102,391,867.50. The trade was a 20.25% decrease in their position. The sale 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 company’s stock in a transaction dated Tuesday, September 8th. The stock was acquired 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 represents a 17.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 4,095,951 shares of company stock worth $60,584,169 and have sold 3,677,224 shares worth $54,622,172.

Old QVC Group Company Profile

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