Loop Media, Inc. (NYSEAMERICAN:LPTV) Short Interest Down 33.7% in June

Loop Media, Inc. (NYSEAMERICAN:LPTV) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 2,050,000 shares, a decrease of 33.7% from the May 31st total of 3,090,000 shares. Currently, 6.0% of the shares of the stock are short sold. Based on an average trading volume of 734,700 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Trading of Loop Media

An institutional investor recently raised its position in Loop Media stock. Thoroughbred Financial Services LLC increased its holdings in Loop Media, Inc. (NYSEAMERICAN:LPTV) by 40.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,000 shares of the company’s stock after acquiring an additional 20,000 shares during the quarter. Thoroughbred Financial Services LLC owned approximately 0.12% of Loop Media worth $70,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 37.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on LPTV shares. Roth Mkm lowered their target price on Loop Media from $2.00 to $0.50 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. B. Riley lowered their price objective on shares of Loop Media from $2.50 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, March 20th.

Loop Media Stock Performance

Shares of Loop Media stock opened at $0.16 on Friday. Loop Media has a twelve month low of $0.14 and a twelve month high of $3.15. The firm has a market capitalization of $11.32 million, a P/E ratio of -0.33 and a beta of 1.58.

Loop Media (NYSEAMERICAN:LPTV) last announced its quarterly earnings results on Friday, May 3rd. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $4.00 million for the quarter, compared to analysts’ expectations of $6.42 million. As a group, equities research analysts predict that Loop Media will post -0.35 EPS for the current year.

Loop Media Company Profile

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.