Zacks Investment Research Lowers Livexlive Media (NASDAQ:LIVX) to Sell

Zacks Investment Research downgraded shares of Livexlive Media (NASDAQ:LIVX) from a hold rating to a sell rating in a research report released on Friday, Zacks.com reports.

According to Zacks, “LiveXLive Media, Inc. is a wholly owned subsidiary of Loton, Corp which provide premium internet networks devoted to live music and music-related video content. The company provides an online destination for music fans to enjoy premium live performances from music venues and leading music festivals, such as Rock in Rio, Outside Lands Music and Arts Festival, Hangout Music Festival as well as premium original content, artist exclusives and industry interviews. LiveXLive Media Inc., formerly known as Loton Corp., is based in Beverly Hills, United States. “

Several other equities analysts have also weighed in on the stock. LADENBURG THALM/SH SH lowered shares of Livexlive Media from a buy rating to a neutral rating and cut their price objective for the company from $5.50 to $2.00 in a report on Monday, September 9th. Maxim Group set a $8.00 price objective on shares of Livexlive Media and gave the company a buy rating in a report on Wednesday, August 7th. Roth Capital started coverage on shares of Livexlive Media in a report on Wednesday, August 21st. They issued a buy rating and a $8.50 price objective on the stock. ValuEngine upgraded shares of Livexlive Media from a hold rating to a buy rating in a report on Tuesday, August 13th. Finally, HC Wainwright restated a buy rating and issued a $6.00 price objective on shares of Livexlive Media in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Livexlive Media presently has a consensus rating of Buy and an average price target of $6.15.

Shares of NASDAQ LIVX opened at $2.26 on Friday. The company’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $3.94. Livexlive Media has a fifty-two week low of $1.84 and a fifty-two week high of $7.23. The firm has a market capitalization of $130.18 million, a P/E ratio of -3.14 and a beta of 1.51. The company has a debt-to-equity ratio of 8.14, a current ratio of 0.43 and a quick ratio of 0.43.

Livexlive Media (NASDAQ:LIVX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). Livexlive Media had a negative net margin of 105.60% and a negative return on equity of 297.90%. The business had revenue of $9.50 million during the quarter, compared to analyst estimates of $10.00 million. Sell-side analysts expect that Livexlive Media will post -0.62 EPS for the current fiscal year.

In other news, CEO Robert S. Ellin bought 13,000 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average price of $2.47 per share, with a total value of $32,110.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 72,778 shares of company stock valued at $179,850 in the last ninety days. Insiders own 36.70% of the company’s stock.

A number of large investors have recently modified their holdings of LIVX. 1492 Capital Management LLC increased its stake in Livexlive Media by 643.4% in the second quarter. 1492 Capital Management LLC now owns 315,497 shares of the company’s stock valued at $1,309,000 after purchasing an additional 273,055 shares in the last quarter. Vanguard Group Inc. increased its stake in Livexlive Media by 26.5% in the second quarter. Vanguard Group Inc. now owns 698,294 shares of the company’s stock valued at $2,898,000 after purchasing an additional 146,419 shares in the last quarter. BlackRock Inc. increased its stake in Livexlive Media by 3.6% in the second quarter. BlackRock Inc. now owns 1,488,503 shares of the company’s stock valued at $6,178,000 after purchasing an additional 51,131 shares in the last quarter. Spark Investment Management LLC bought a new stake in Livexlive Media in the first quarter valued at approximately $63,000. Finally, Susquehanna International Group LLP bought a new stake in Livexlive Media in the second quarter valued at approximately $44,000. 20.64% of the stock is owned by hedge funds and other institutional investors.

Livexlive Media Company Profile

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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