Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Liberty Media Corporation – Liberty Live Series C (NASDAQ:LLYVK) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on LLYVK. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Liberty Media Corporation – Liberty Live Series C in a report on Thursday, January 22nd. Wall Street Zen upgraded Liberty Media Corporation – Liberty Live Series C to a “sell” rating in a research report on Saturday, February 28th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Liberty Media Corporation – Liberty Live Series C Trading Down 2.6%

NASDAQ:LLYVK opened at $95.84 on Wednesday. Liberty Media Corporation – Liberty Live Series C has a 12-month low of $60.55 and a 12-month high of $102.62. The stock’s 50 day simple moving average is $87.85 and its 200-day simple moving average is $89.03. The firm has a market cap of $8.81 billion, a P/E ratio of -184.31 and a beta of 1.26.

Insider Transactions 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 shares were sold at an average price of $96.95, for a total transaction of $8,098,815.20. Following the transaction, the director owned 94,356 shares of the company’s stock, valued at approximately $9,147,814.20. This represents a 46.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 7,685 shares of the firm’s 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 sale, the insider owned 10,587,143 shares in the company, valued at $886,355,611.96. This trade represents a 0.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 497,554 shares of company stock worth $43,484,018.

Hedge Funds Weigh In On Liberty Media Corporation – Liberty Live Series C

Several large investors have recently added to or reduced their stakes in LLYVK. TD Private Client Wealth LLC acquired a new stake in Liberty Media Corporation – Liberty Live Series C in the 3rd quarter worth about $26,000. Kelleher Financial Advisors purchased a new position in shares of Liberty Media Corporation – Liberty Live Series C during the 3rd quarter worth about $26,000. Mather Group LLC. purchased a new position in shares of Liberty Media Corporation – Liberty Live Series C during the 3rd quarter worth about $43,000. Global Retirement Partners LLC acquired a new stake in shares of Liberty Media Corporation – Liberty Live Series C in the fourth quarter worth approximately $43,000. Finally, Align Financial LLC purchased a new stake in Liberty Media Corporation – Liberty Live Series C in the fourth quarter valued at approximately $48,000. 60.36% of the stock is currently owned by hedge funds and other institutional investors.

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.