Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) Releases Earnings Results, Misses Estimates By $3.34 EPS

Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) released its quarterly earnings data on Thursday. The company reported ($2.92) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($3.34), Zacks reports. The company had revenue of $147.06 million for the quarter, compared to the consensus estimate of $93.63 million.

Liberty Media Corporation – Liberty Live Series C Trading Down 0.9%

Shares of NASDAQ LLYVK traded down $0.93 during midday trading on Friday, reaching $102.80. The company had a trading volume of 148,881 shares, compared to its average volume of 320,225. The business’s 50-day simple moving average is $101.45 and its 200 day simple moving average is $96.44. The stock has a market cap of $9.46 billion, a P/E ratio of -22.69 and a beta of 0.97. Liberty Media Corporation – Liberty Live Series C has a 1 year low of $76.93 and a 1 year high of $108.97.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Zacks Research upgraded Liberty Media Corporation – Liberty Live Series C from a “strong sell” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen raised Liberty Media Corporation – Liberty Live Series C from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a research note on Friday, May 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Liberty Media Corporation – Liberty Live Series C currently has a consensus rating of “Reduce”.

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.