Old QVC Group, Inc. (NASDAQ:QVCG) Stock Short Interest Climbs 243.5%

Old QVC Group, Inc. (NASDAQ:QVCG) saw a significant increase in short interest in September. As of September 30th, there was short interest totaling 410,960 shares, an increase of 243.5% from the September 15th total of 119,642 shares. Based on an average daily trading volume, of 532,088 shares, the short-interest ratio is currently 0.8 days.

Old QVC Group Trading Down 5.1%

QVCG traded down $0.65 during trading on Monday, hitting $12.22. 60,201 shares of the company’s stock traded hands, compared to its average volume of 346,130. Old QVC Group has a 12-month low of $12.20 and a 12-month high of $20.00.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Old QVC Group to a “hold” rating in a report on Saturday, September 19th.

Insider Activity

In other Old QVC Group news, major shareholder Goldentree Asset Management Lp bought 250,000 shares of the company’s stock in a transaction dated Friday, October 2nd. The shares were purchased at an average price of $13.85 per share, for a total transaction of $3,462,500.00. Following the acquisition, the insider owned 11,327,754 shares in the company, valued at approximately $156,889,392.90. This represents a 2.26% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Silver Point Capital L.P. sold 1,600,000 shares of the company’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. This trade represents a 20.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired 2,743,951 shares of company stock valued at $43,886,969 over the last 90 days.

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.