Renaissance Technologies LLC Boosts Stake in LiveOne, Inc. (NASDAQ:LVO)

Renaissance Technologies LLC grew its position in shares of LiveOne, Inc. (NASDAQ:LVO) by 18.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 423,500 shares of the company’s stock after purchasing an additional 66,300 shares during the period. Renaissance Technologies LLC owned about 0.43% of LiveOne worth $665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of LiveOne in the first quarter worth about $53,000. Vanguard Group Inc. boosted its stake in shares of LiveOne by 3.4% during the first quarter. Vanguard Group Inc. now owns 2,871,646 shares of the company’s stock valued at $5,600,000 after purchasing an additional 95,047 shares during the period. Virtu Financial LLC bought a new position in shares of LiveOne in the first quarter worth approximately $30,000. Quadrature Capital Ltd bought a new position in shares of LiveOne in the first quarter worth approximately $34,000. Finally, Bank of New York Mellon Corp increased its stake in shares of LiveOne by 588.1% in the second quarter. Bank of New York Mellon Corp now owns 202,024 shares of the company’s stock worth $317,000 after buying an additional 172,665 shares during the period. 21.25% of the stock is currently owned by hedge funds and other institutional investors.

LiveOne Price Performance

LVO stock opened at $0.64 on Wednesday. The company has a market cap of $63.69 million, a P/E ratio of -3.89 and a beta of 1.54. LiveOne, Inc. has a 1 year low of $0.60 and a 1 year high of $2.15. The stock’s fifty day moving average price is $1.44 and its 200-day moving average price is $1.62.

LiveOne (NASDAQ:LVO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $33.08 million during the quarter, compared to analysts’ expectations of $33.10 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. As a group, analysts expect that LiveOne, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners dropped their price objective on LiveOne from $3.50 to $1.50 and set a “buy” rating for the company in a report on Wednesday, October 2nd.

LiveOne Profile

LiveOne, Inc, a digital media company, engages in the acquisition, distribution, and monetization of live music, Internet radio, podcasting/vodcasting, and music-related streaming and video content. It operates LiveXLive, a live music streaming platform; PodcastOne, a podcasting platform; and Slacker, an integrated membership and advertising streaming music service, as well as produces original music-related content.