Old QVC Group, Inc. (NASDAQ:QVCG – Get Free Report) shares dropped 7% during trading on Thursday. The stock traded as low as $7.41 and last traded at $7.71. Approximately 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
QVCG has been the subject of several research reports. Wall Street Zen upgraded shares of Old QVC Group to a “hold” rating in a research note on Saturday, September 19th. Weiss Ratings began coverage on Old QVC Group in a research report on Monday. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.
Read Our Latest Analysis on QVCG
Old QVC Group Stock Down 7.0%
The company has a 50-day moving average of $12.84.
Insiders Place Their Bets
In other Old QVC Group news, major shareholder Silver Point Capital, L.P. sold 1,352,000 shares of Old QVC Group stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $12.35, for a total transaction of $16,697,200.00. Following the completion of the sale, the insider directly owned 4,949,038 shares in the company, valued at $61,120,619.30. This trade represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Silver Point Capital L.P. sold 1,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $16.25, for a total value of $26,000,000.00. Following the completion of the sale, the insider directly 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 SEC filing for this sale provides additional information. Over the last quarter, insiders acquired 4,095,951 shares of company stock valued at $60,584,169 and sold 3,677,224 shares valued at $54,622,172.
Old QVC Group Company Profile
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