Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) Stock Rating Lowered by Zacks Research

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on LLYVK. Weiss Ratings reissued a “sell (d-)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a research note on Friday. Wall Street Zen raised shares of Liberty Media Corporation – Liberty Live Series C from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Liberty Media Corporation – Liberty Live Series C Stock Down 3.0%

Shares of NASDAQ LLYVK opened at $97.91 on Monday. Liberty Media Corporation – Liberty Live Series C has a 52-week low of $72.29 and a 52-week high of $102.62. The firm has a fifty day moving average of $96.18 and a 200-day moving average of $90.00. The stock has a market capitalization of $9.01 billion, a PE ratio of -27.66 and a beta of 0.97.

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($3.07). The firm had revenue of $63.62 million for the quarter, compared to the consensus estimate of $70.40 million. Equities research analysts expect that Liberty Media Corporation – Liberty Live Series C will post -3.3 EPS for the current fiscal year.

Institutional Trading of Liberty Media Corporation – Liberty Live Series C

A number of institutional investors have recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in Liberty Media Corporation – Liberty Live Series C during the 1st quarter worth $29,000. Bank of America Corp DE boosted its position in Liberty Media Corporation – Liberty Live Series C by 63.7% during the 1st quarter. Bank of America Corp DE now owns 382,068 shares of the company’s stock worth $35,956,000 after purchasing an additional 148,698 shares during the period. EverSource Wealth Advisors LLC boosted its position in Liberty Media Corporation – Liberty Live Series C by 83.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 507 shares of the company’s stock worth $48,000 after purchasing an additional 230 shares during the period. California State Teachers Retirement System boosted its position in Liberty Media Corporation – Liberty Live Series C by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 51,908 shares of the company’s stock worth $4,885,000 after purchasing an additional 9,712 shares during the period. Finally, Royal Bank of Canada boosted its position in Liberty Media Corporation – Liberty Live Series C by 18.2% during the 1st quarter. Royal Bank of Canada now owns 33,494 shares of the company’s stock worth $3,152,000 after purchasing an additional 5,154 shares during the period. 60.36% of the stock is owned by hedge funds and other institutional investors.

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.