Livexlive Media (LIVX) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Livexlive Media (OTCMKTS:LIVX) from a sell rating to a hold rating in a research report report published on Friday.

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. “

A number of other equities analysts have also recently commented on the stock. HC Wainwright initiated coverage on shares of Livexlive Media in a research report on Friday, October 19th. They set a buy rating and a $6.00 price objective for the company. JMP Securities lifted their price objective on shares of Livexlive Media from $5.00 to $6.00 and gave the stock a market outperform rating in a research report on Friday, August 17th.

OTCMKTS:LIVX opened at $4.85 on Friday. Livexlive Media has a 1-year low of $2.52 and a 1-year high of $11.11.

Livexlive Media (OTCMKTS:LIVX) last released its earnings results on Wednesday, November 14th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.02. The firm had revenue of $7.97 million during the quarter, compared to the consensus estimate of $8.20 million.

In related news, CEO Robert S. Ellin purchased 16,201 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The stock was acquired at an average price of $3.97 per share, with a total value of $64,317.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jay E. Krigsman purchased 84,351 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was bought at an average cost of $5.06 per share, with a total value of $426,816.06. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 124,478 shares of company stock valued at $605,023.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in Livexlive Media during the second quarter worth about $109,000. Balter Liquid Alternatives LLC acquired a new position in Livexlive Media during the second quarter worth about $145,000. Millennium Management LLC acquired a new position in Livexlive Media during the first quarter worth about $268,000. Northern Trust Corp acquired a new position in Livexlive Media during the second quarter worth about $373,000. Finally, BlackRock Inc. acquired a new position in Livexlive Media during the second 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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