Gabelli Funds LLC Cuts Stock Holdings in Liberty Media Corporation – Liberty Live Series C $LLYVK

Gabelli Funds LLC lowered its position in shares of Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) by 90.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 185,052 shares of the company’s stock after selling 1,700,000 shares during the quarter. Gabelli Funds LLC’s holdings in Liberty Media Corporation – Liberty Live Series C were worth $17,944,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLYVK. Principal Financial Group Inc. lifted its position in Liberty Media Corporation – Liberty Live Series C by 791.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,688,466 shares of the company’s stock valued at $163,734,000 after acquiring an additional 1,498,972 shares in the last quarter. Norges Bank bought a new stake in shares of Liberty Media Corporation – Liberty Live Series C in the 2nd quarter worth $58,978,000. JPMorgan Chase & Co. increased its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 118.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 568,468 shares of the company’s stock worth $46,137,000 after purchasing an additional 307,902 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 19.2% in the 2nd quarter. Bamco Inc. NY now owns 1,417,398 shares of the company’s stock worth $115,036,000 after purchasing an additional 228,040 shares in the last quarter. Finally, Finepoint Capital LP raised its stake in shares of Liberty Media Corporation – Liberty Live Series C by 24.1% in the second quarter. Finepoint Capital LP now owns 537,051 shares of the company’s stock worth $43,587,000 after purchasing an additional 104,156 shares during the last quarter. 60.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Liberty Media Corporation – Liberty Live Series C news, major shareholder Berkshire Hathaway Inc sold 66,568 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $83.27, for a total value of $5,543,117.36. Following the transaction, the insider owned 10,703,007 shares of the company’s stock, valued at approximately $891,239,392.89. This represents a 0.62% 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 the SEC website. Also, Director Chase Carey sold 83,536 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the completion of the transaction, the director directly owned 94,356 shares in the company, valued at $9,147,814.20. The trade was a 46.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 497,554 shares of company stock worth $43,484,018.

Liberty Media Corporation – Liberty Live Series C Trading Down 2.6%

Shares of LLYVK opened at $95.84 on Friday. The firm has a market cap of $8.81 billion, a PE ratio of -184.31 and a beta of 1.26. The firm has a fifty day simple moving average of $87.85 and a two-hundred day simple moving average of $89.00. Liberty Media Corporation – Liberty Live Series C has a 1-year low of $60.55 and a 1-year high of $102.62.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Liberty Media Corporation – Liberty Live Series C to a “sell” rating in a research report on Saturday, February 28th. Zacks Research lowered Liberty Media Corporation – Liberty Live Series C from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Liberty Media Corporation – Liberty Live Series C

Liberty Media Corporation – Liberty Live Series C (NASDAQ: LLYVK) is a tracking stock designed to reflect the performance of Liberty Media’s investment in Live Nation Entertainment. Established in August 2023, the Liberty Live tracking stock allows investors to gain targeted exposure to the live entertainment sector without direct ownership of Liberty Media’s other diversified assets. The Series C shares trade separately, offering a clear view of the value and results generated by Live Nation’s global operations.

The underlying asset for the Liberty Live Series C shares is Liberty Media’s equity stake in Live Nation, one of the world’s leading live entertainment companies.