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

Zacks Research lowered shares of Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on LLYVK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a report on Friday, May 29th. Wall Street Zen upgraded Liberty Media Corporation – Liberty Live Series C from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Liberty Media Corporation – Liberty Live Series C Stock Performance

Shares of NASDAQ:LLYVK opened at $107.87 on Wednesday. The firm’s 50 day simple moving average is $102.22 and its 200-day simple moving average is $97.16. Liberty Media Corporation – Liberty Live Series C has a one year low of $76.93 and a one year high of $108.97. The firm has a market cap of $9.92 billion, a PE ratio of -23.81 and a beta of 0.97.

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) last announced 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 company had revenue of $147.06 million during the quarter, compared to the consensus estimate of $93.63 million. Equities research analysts predict that Liberty Media Corporation – Liberty Live Series C will post -7.69 EPS for the current fiscal year.

Institutional Trading of Liberty Media Corporation – Liberty Live Series C

A number of hedge funds have recently bought and sold shares of LLYVK. AQR Capital Management LLC increased its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 47.6% in the 1st quarter. AQR Capital Management LLC now owns 14,639 shares of the company’s stock valued at $983,000 after acquiring an additional 4,719 shares during the period. Jane Street Group LLC bought a new stake in Liberty Media Corporation – Liberty Live Series C during the first quarter valued at about $1,018,000. Invesco Ltd. grew its stake in Liberty Media Corporation – Liberty Live Series C by 9.1% in the second 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 during the last quarter. First Trust Advisors LP grew its stake in Liberty Media Corporation – Liberty Live Series C by 63.5% in the second quarter. First Trust Advisors LP now owns 61,354 shares of the company’s stock valued at $4,979,000 after purchasing an additional 23,827 shares during the last quarter. Finally, State Street Corp raised its holdings in Liberty Media Corporation – Liberty Live Series C by 2.2% in the second 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 in the last quarter. 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.