Loop Media, Inc. Expected to Post Q3 2024 Earnings of ($0.09) Per Share (NYSEAMERICAN:LPTV)

Loop Media, Inc. (NYSEAMERICAN:LPTV) – Research analysts at B. Riley reduced their Q3 2024 earnings per share estimates for Loop Media in a report issued on Monday, May 6th. B. Riley analyst E. Wold now expects that the company will earn ($0.09) per share for the quarter, down from their prior forecast of ($0.08). B. Riley has a “Buy” rating and a $1.50 price target on the stock. The consensus estimate for Loop Media’s current full-year earnings is ($0.34) per share. B. Riley also issued estimates for Loop Media’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.33) EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.19) EPS.

Loop Media Price Performance

Loop Media stock opened at $0.24 on Wednesday. Loop Media has a twelve month low of $0.22 and a twelve month high of $4.52. The company has a market cap of $16.98 million, a price-to-earnings ratio of -0.50 and a beta of 1.85.

Loop Media (NYSEAMERICAN:LPTV) last issued 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 company had revenue of $4.00 million for the quarter, compared to analysts’ expectations of $6.42 million.

Hedge Funds Weigh In On Loop Media

A hedge fund recently raised its stake in Loop Media stock. Thoroughbred Financial Services LLC grew its position in Loop Media, Inc. (NYSEAMERICAN:LPTV) by 40.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,000 shares of the company’s stock after buying an additional 20,000 shares during the quarter. Thoroughbred Financial Services LLC owned 0.12% of Loop Media worth $70,000 at the end of the most recent quarter. 37.79% of the stock is currently owned by institutional investors and hedge funds.

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.