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

Old QVC Group, Inc. (NASDAQ:QVCG) major shareholder Silver Point Capital, L.P. sold 1,352,000 shares of the company’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 sale, 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 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 Stock Down 6.7%

Old QVC Group stock opened at $10.43 on Thursday. Old QVC Group, Inc. has a twelve month low of $10.20 and a twelve month high of $20.00. The stock’s 50 day moving average is $15.13.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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.