Livexlive Media (LIVX) Downgraded by ValuEngine to Hold

ValuEngine lowered shares of Livexlive Media (NASDAQ:LIVX) from a buy rating to a hold rating in a research note released on Thursday, April 11th, ValuEngine reports.

Several other equities research analysts have also issued reports on the stock. HC Wainwright reissued a buy rating and issued a $10.00 target price on shares of Livexlive Media in a report on Thursday, January 24th. Maxim Group initiated coverage on shares of Livexlive Media in a report on Monday, March 18th. They issued a buy rating and a $9.00 target price for the company. Finally, Zacks Investment Research raised shares of Livexlive Media from a hold rating to a buy rating and set a $6.25 target price for the company in a report on Saturday, February 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Livexlive Media has an average rating of Buy and a consensus target price of $7.81.

Shares of NASDAQ LIVX traded up $0.17 during midday trading on Thursday, hitting $4.88. 22,122 shares of the company’s stock traded hands, compared to its average volume of 74,395. Livexlive Media has a 1 year low of $2.52 and a 1 year high of $11.11. The firm has a market capitalization of $254.22 million, a P/E ratio of -10.17 and a beta of 1.04. 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 (NASDAQ:LIVX) last released its quarterly earnings results on Tuesday, February 12th. The company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.06. Livexlive Media had a negative net margin of 117.50% and a negative return on equity of 134.46%. The firm had revenue of $8.96 million during the quarter, compared to analyst estimates of $9.01 million. As a group, equities research analysts anticipate that Livexlive Media will post -0.68 EPS for the current year.

In other Livexlive Media news, CEO Robert S. Ellin purchased 4,677 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was acquired at an average cost of $6.53 per share, for a total transaction of $30,540.81. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert S. Ellin purchased 4,800 shares of the company’s stock in a transaction on Friday, February 15th. The stock was acquired at an average price of $5.84 per share, with a total value of $28,032.00. The disclosure for this purchase can be found here. Insiders acquired a total of 27,594 shares of company stock valued at $166,448 over the last 90 days. 37.00% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Deutsche Bank AG boosted its stake in Livexlive Media by 9.3% in the 4th quarter. Deutsche Bank AG now owns 38,553 shares of the company’s stock worth $190,000 after purchasing an additional 3,288 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Livexlive Media by 8,784.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,552 shares of the company’s stock worth $41,000 after purchasing an additional 7,467 shares during the period. American International Group Inc. boosted its stake in Livexlive Media by 508.2% in the 4th quarter. American International Group Inc. now owns 19,388 shares of the company’s stock worth $96,000 after purchasing an additional 16,200 shares during the period. Northern Trust Corp boosted its stake in Livexlive Media by 25.5% in the 4th quarter. Northern Trust Corp now owns 86,138 shares of the company’s stock worth $426,000 after purchasing an additional 17,511 shares during the period. Finally, Rhumbline Advisers bought a new position in Livexlive Media in the 4th quarter worth approximately $164,000. Institutional investors and hedge funds own 21.46% of the company’s stock.

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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