Bank of Nova Scotia Has $7.21 Million Stake in Liberty Media Corporation - Liberty Live Series C $LLYVK

Key Points

• Bank of Nova Scotia cut its LLYVK stake by 43.1% in the first quarter, selling 58,000 shares and retaining 76,600 shares worth approximately $7.21 million. Institutional investors and hedge funds collectively own 60.36% of the stock.
• LLYVK shares opened at $102.26, near the upper end of their 52-week range of $76.93 to $108.97. The company has a market capitalization of $9.41 billion and a negative price-to-earnings ratio of -28.89.
• Quarterly results missed analyst expectations: Liberty Live reported a loss of $3.20 per share versus consensus estimates of a $0.13 loss, while revenue of $63.62 million fell short of the $70.40 million forecast. Analyst sentiment remains negative, with an average “Reduce” rating.

Bank of Nova Scotia reduced its position in Liberty Media Corporation - Liberty Live Series C (NASDAQ:LLYVK - Free Report) by 43.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,600 shares of the company's stock after selling 58,000 shares during the quarter. Bank of Nova Scotia owned about 0.08% of Liberty Media Corporation - Liberty Live Series C worth $7,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new stake in shares of Liberty Media Corporation - Liberty Live Series C during the 3rd quarter worth approximately $26,000. Global Retirement Partners LLC bought a new position in Liberty Media Corporation - Liberty Live Series C in the fourth quarter valued at approximately $43,000. Align Financial LLC bought a new position in Liberty Media Corporation - Liberty Live Series C in the fourth quarter valued at approximately $48,000. Schroder Investment Management Group acquired a new position in Liberty Media Corporation - Liberty Live Series C during the third quarter valued at approximately $57,000. Finally, Bessemer Group Inc. raised its position in Liberty Media Corporation - Liberty Live Series C by 11.5% during the first quarter. Bessemer Group Inc. now owns 1,472 shares of the company's stock valued at $139,000 after purchasing an additional 152 shares in the last quarter. 60.36% of the stock is currently owned by institutional investors and hedge funds.

Liberty Media Corporation - Liberty Live Series C Price Performance

Shares of NASDAQ:LLYVK opened at $102.26 on Tuesday. The company has a market cap of $9.41 billion, a price-to-earnings ratio of -28.89 and a beta of 0.94. The firm has a 50 day simple moving average of $100.55 and a 200 day simple moving average of $95.26. Liberty Media Corporation - Liberty Live Series C has a one year low of $76.93 and a one year high of $108.97.

Liberty Media Corporation - Liberty Live Series C (NASDAQ:LLYVK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($3.07). The business had revenue of $63.62 million for the quarter, compared to analysts' expectations of $70.40 million. As a group, analysts expect that Liberty Media Corporation - Liberty Live Series C will post -3.3 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LLYVK shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Liberty Media Corporation - Liberty Live Series C in a report on Friday, May 29th. Zacks Research raised Liberty Media Corporation - Liberty Live Series C from a "strong sell" rating to a "hold" rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Liberty Media Corporation - Liberty Live Series C from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Reduce".

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.

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