Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) Lowered to “Strong Sell” Rating by Zacks Research

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

LLYVK has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a research report on Friday, May 29th. 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 investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, Liberty Media Corporation – Liberty Live Series C currently has a consensus rating of “Sell”.

Liberty Media Corporation – Liberty Live Series C Stock Performance

Shares of LLYVK opened at $107.87 on Wednesday. Liberty Media Corporation – Liberty Live Series C has a fifty-two week low of $76.93 and a fifty-two week high of $108.97. The company has a market capitalization of $9.92 billion, a PE ratio of -23.81 and a beta of 0.97. The stock has a fifty day moving average of $102.22 and a two-hundred day moving average of $97.16.

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($2.92) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($3.34). The firm had revenue of $147.06 million during the quarter, compared to analyst estimates of $93.63 million. As a group, equities research analysts forecast that Liberty Media Corporation – Liberty Live Series C will post -7.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Liberty Media Corporation – Liberty Live Series C

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Liberty Media Corporation – Liberty Live Series C by 47.6% during the first quarter. AQR Capital Management LLC now owns 14,639 shares of the company’s stock worth $983,000 after acquiring an additional 4,719 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Liberty Media Corporation – Liberty Live Series C in the 1st quarter valued at about $1,018,000. Invesco Ltd. lifted its stake in shares of Liberty Media Corporation – Liberty Live Series C by 9.1% in the 2nd quarter. Invesco Ltd. now owns 96,925 shares of the company’s stock valued at $7,866,000 after purchasing an additional 8,110 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 63.5% during the 2nd quarter. First Trust Advisors LP now owns 61,354 shares of the company’s stock worth $4,979,000 after purchasing an additional 23,827 shares during the period. Finally, State Street Corp grew its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 2.2% during the 2nd quarter. State Street Corp now owns 825,898 shares of the company’s stock worth $67,030,000 after purchasing an additional 17,989 shares during the period. Hedge funds and other institutional investors own 60.36% of the company’s stock.

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.