Livexlive Media (LIVX) Lowered to Hold at ValuEngine

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ValuEngine cut shares of Livexlive Media (NASDAQ:LIVX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

LIVX has been the subject of several other research reports. Zacks Investment Research raised shares of Livexlive Media from a hold rating to a buy rating and set a $6.25 price target for the company in a report on Saturday, February 16th. Maxim Group began coverage on shares of Livexlive Media in a report on Monday, March 18th. They issued a buy rating and a $9.00 price target for the company. Finally, HC Wainwright set a $6.00 price target on shares of Livexlive Media and gave the stock a buy rating in a report on Thursday, December 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $7.81.

Shares of NASDAQ LIVX opened at $4.58 on Tuesday. The firm has a market capitalization of $260.47 million, a P/E ratio of -9.46 and a beta of 1.18. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.55. Livexlive Media has a one year low of $2.52 and a one year high of $11.11.

Livexlive Media (NASDAQ:LIVX) last issued its quarterly earnings results on Tuesday, February 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $8.96 million during the quarter, compared to analyst estimates of $9.01 million. Livexlive Media had a negative net margin of 117.50% and a negative return on equity of 134.46%. Equities research analysts expect that Livexlive Media will post -0.68 earnings per share for the current year.

In related news, CEO Robert S. Ellin purchased 4,677 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was bought at an average price of $6.53 per share, with a total value of $30,540.81. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert S. Ellin purchased 4,800 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was bought at an average cost of $5.84 per share, with a total value of $28,032.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 27,594 shares of company stock valued at $166,448. 37.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in shares of Livexlive Media by 9.3% during the fourth quarter. Deutsche Bank AG now owns 38,553 shares of the company’s stock worth $190,000 after buying an additional 3,288 shares in the last quarter. American International Group Inc. grew its holdings in shares of Livexlive Media by 508.2% during the fourth quarter. American International Group Inc. now owns 19,388 shares of the company’s stock worth $96,000 after buying an additional 16,200 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Livexlive Media by 25.5% during the fourth quarter. Northern Trust Corp now owns 86,138 shares of the company’s stock worth $426,000 after buying an additional 17,511 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Livexlive Media during the fourth quarter worth $164,000. Finally, 1492 Capital Management LLC purchased a new stake in shares of Livexlive Media during the fourth quarter worth $210,000. 21.32% of the stock is owned by institutional investors and hedge funds.

About Livexlive Media

LiveXLive Media, Inc engages in the acquisition, distribution, and monetization of live music, Internet radio, and music-related streaming and video content. The company operates LiveXLive, a live music streaming platform, as well as Slacker Radio, a streaming music service; and produces original music-related content.

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