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

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

Insider Activity

In other news, major shareholder Goldentree Asset Management Lp bought 250,000 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was bought at an average price of $13.85 per share, for a total transaction of $3,462,500.00. Following the transaction, the insider owned 11,327,754 shares in the company, valued at $156,889,392.90. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 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 owned 6,301,038 shares of the company’s stock, valued at $102,391,867.50. This trade represents a 20.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders purchased 2,743,951 shares of company stock valued at $43,886,969.

Analysts Set New Price Targets

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

Old QVC Group Price Performance

NASDAQ QVCG traded up $0.07 during trading hours on Friday, reaching $12.87. The company’s stock had a trading volume of 1,550,265 shares, compared to its average volume of 392,970. Old QVC Group has a 52 week low of $12.35 and a 52 week high of $20.00.

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.