Loop Media (NYSEAMERICAN:LPTV) Trading Down 6.6%

Posted by Jared Coughlin on May 4th, 2024

Loop Media, Inc. (NYSEAMERICAN:LPTV – Get Free Report) shares were down 6.6% during mid-day trading on Thursday . The company traded as low as $0.29 and last traded at $0.32. Approximately 220,861 shares were traded during trading, an increase of 38% from the average daily volume of 160,291 shares. The stock had previously closed at $0.34.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their target price on Loop Media from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, March 20th.

Check Out Our Latest Stock Analysis on LPTV

Loop Media Stock Performance

The company has a market cap of $22.67 million, a P/E ratio of -0.59 and a beta of 1.85.

Loop Media (NYSEAMERICAN:LPTV – Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $10.17 million for the quarter, compared to the consensus estimate of $9.54 million. As a group, equities analysts predict that Loop Media, Inc. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Loop Media

A hedge fund recently raised its stake in Loop Media stock. Thoroughbred Financial Services LLC lifted its position in shares of Loop Media, Inc. (NYSEAMERICAN:LPTV – Free Report) by 40.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock after acquiring an additional 20,000 shares during the period. Thoroughbred Financial Services LLC owned approximately 0.12% of Loop Media worth $70,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 37.79% of the company’s stock.

Loop Media Company Profile

(Get Free Report)

Loop Media, Inc operates as a multichannel digital video platform media company in the United States. The company offers hand-curated music video content licensed from major and independent record labels, including Universal Music Group, Sony Music Entertainment, and Warner Music Group; and non-music video content, which is licensed or acquired from third parties, such as action sports clips, drone and atmospheric footage, trivia, news headlines, lifestyle channels, and kid-friendly videos, as well as movie, television and video game trailers, and other content.