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

Zacks Research downgraded shares of Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

LLYVK has been the subject of a number of other reports. 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 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 MarketBeat.com, the company presently has a consensus rating of “Sell”.

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

NASDAQ LLYVK opened at $97.91 on Monday. The stock has a 50-day simple moving average of $96.18 and a 200 day simple moving average of $90.00. The company 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 has a 12 month low of $72.29 and a 12 month high of $102.62.

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($3.07). The company had revenue of $63.62 million during the quarter, compared to analyst estimates of $70.40 million. As a group, sell-side analysts predict that Liberty Media Corporation – Liberty Live Series C will post -3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. grew its stake in Liberty Media Corporation – Liberty Live Series C by 5.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 10,315,091 shares of the company’s stock valued at $857,803,000 after acquiring an additional 551,011 shares during the period. Vanguard Group Inc. grew its stake in Liberty Media Corporation – Liberty Live Series C by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 4,721,823 shares of the company’s stock valued at $392,667,000 after acquiring an additional 63,117 shares during the period. ValueAct Holdings L.P. grew its stake in Liberty Media Corporation – Liberty Live Series C by 2.5% in the fourth quarter. ValueAct Holdings L.P. now owns 3,603,988 shares of the company’s stock valued at $299,708,000 after acquiring an additional 88,100 shares during the period. Morgan Stanley boosted its position in shares of Liberty Media Corporation – Liberty Live Series C by 1.0% during the fourth quarter. Morgan Stanley now owns 2,062,231 shares of the company’s stock worth $171,495,000 after buying an additional 20,587 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Liberty Media Corporation – Liberty Live Series C by 5.3% during the first quarter. Principal Financial Group Inc. now owns 1,908,977 shares of the company’s stock worth $179,656,000 after buying an additional 96,288 shares in the last quarter. 60.36% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Live Series C Company Profile

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.