Old QVC Group (NASDAQ:QVCG) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Old QVC Group (NASDAQ:QVCG) to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Old QVC Group Price Performance

NASDAQ QVCG opened at $15.92 on Friday. Old QVC Group has a 1-year low of $14.60 and a 1-year high of $20.00.

Insider Buying and Selling

In other news, major shareholder Goldentree Asset Management Lp bought 1,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average cost of $16.25 per share, with a total value of $26,000,000.00. Following the completion of the purchase, the insider directly owned 10,991,951 shares in the company, valued at $178,619,203.75. This represents a 17.04% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Silver Point Capital L.P. sold 1,600,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $16.25, for a total transaction of $26,000,000.00. Following the sale, the insider owned 6,301,038 shares of the company’s stock, valued at $102,391,867.50. This represents a 20.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have bought 2,408,172 shares of company stock valued at $39,197,788.

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.