Envestnet Asset Management Inc. Makes New $3.11 Million Investment in Liberty Media Corporation – Liberty Live Series C $LLYVK

Envestnet Asset Management Inc. bought a new stake in Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,047 shares of the company’s stock, valued at approximately $3,108,000.

Other hedge funds have also recently modified their holdings of the company. TD Private Client Wealth LLC purchased a new position in Liberty Media Corporation – Liberty Live Series C in the 3rd quarter valued at $26,000. Mather Group LLC. acquired a new stake in shares of Liberty Media Corporation – Liberty Live Series C in the 3rd quarter worth $43,000. Quent Capital LLC purchased a new stake in shares of Liberty Media Corporation – Liberty Live Series C in the third quarter valued at about $104,000. CWM LLC increased its stake in shares of Liberty Media Corporation – Liberty Live Series C by 31.4% during the second quarter. CWM LLC now owns 1,085 shares of the company’s stock worth $88,000 after acquiring an additional 259 shares during the period. Finally, waypoint wealth counsel purchased a new position in Liberty Media Corporation – Liberty Live Series C during the third quarter worth about $208,000. 60.36% of the stock is owned by institutional investors and hedge funds.

Liberty Media Corporation – Liberty Live Series C Trading Up 0.0%

LLYVK stock opened at $95.12 on Thursday. The company’s 50-day moving average price is $85.93 and its 200 day moving average price is $88.69. Liberty Media Corporation – Liberty Live Series C has a 52 week low of $60.55 and a 52 week high of $102.62. The company has a market cap of $8.74 billion, a P/E ratio of -24.64 and a beta of 1.40.

Insider Activity at Liberty Media Corporation – Liberty Live Series C

In related news, Director Chase Carey sold 83,536 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $96.95, for a total value of $8,098,815.20. Following the sale, the director owned 94,356 shares in the company, valued at $9,147,814.20. This represents a 46.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Berkshire Hathaway Inc sold 7,685 shares of Liberty Media Corporation – Liberty Live Series C stock in a transaction on Friday, January 16th. The stock was sold at an average price of $83.72, for a total value of $643,388.20. Following the transaction, the insider directly owned 10,587,143 shares of the company’s stock, valued at approximately $886,355,611.96. This represents a 0.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 497,554 shares of company stock worth $43,484,018 in the last three months.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Liberty Media Corporation – Liberty Live Series C Profile

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.