Livexlive Media (LIVX) Downgraded by Zacks Investment Research
Livexlive Media (OTCMKTS:LIVX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.
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. “
Separately, JMP Securities increased their price target on Livexlive Media from $5.00 to $6.00 and gave the company a “market outperform” rating in a research report on Friday.
Livexlive Media (OTCMKTS:LIVX) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.09). The company had revenue of $7.59 million during the quarter, compared to analyst estimates of $7.70 million.
A number of hedge funds and other institutional investors have recently made changes to their positions in LIVX. Millennium Management LLC acquired a new stake in Livexlive Media during the 1st quarter worth about $268,000. Bank of New York Mellon Corp acquired a new stake in Livexlive Media during the 2nd quarter worth about $109,000. Balter Liquid Alternatives LLC acquired a new stake in Livexlive Media during the 2nd quarter worth about $145,000. Finally, BlackRock Inc. acquired a new stake in Livexlive Media during the 2nd quarter worth about $3,142,000.
About Livexlive Media
LiveXLive Media, Inc, formerly Loton, Corp., is global music streaming network company. The Company is focused on live music and music-related video content. It operates an online destination for music fans to enjoy live performances from music venues and music festivals around the world, such as Rock in Rio, Outside Lands Music and Arts Festival and Hangout Music Festival, as well as original content, artist exclusives and industry interviews.
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