Loop Media (NYSEAMERICAN:LPTV) Stock Price Down 6.6%

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

Analyst Ratings Changes

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

Loop Media Price Performance

The stock has a market capitalization of $22.54 million, a price-to-earnings ratio of -0.59 and a beta of 1.85.

Loop Media (NYSEAMERICAN:LPTV) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $10.17 million during the quarter, compared to analyst estimates of $9.54 million. On average, equities research analysts predict that Loop Media, Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Loop Media

A hedge fund recently raised its stake in Loop Media stock. Thoroughbred Financial Services LLC boosted its position in shares of Loop Media, Inc. (NYSEAMERICAN:LPTV) by 40.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter. Hedge funds and other institutional investors own 37.79% of the company’s stock.

About Loop Media

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.