EDM-focused promoter SFX Entertainment hasn't found its groove yet. On Friday, the company reported a weak fourth quarter and a loss of $131 million on revenue of $354.4 million for 2014.
Pro forma revenue, which includes revenue from acquisitions prior to SFX's ownership, grew 8.2% to $386.2 million from $356.7 million in 2013. This is currently the most useful way to measure SFX's revenue growth. Pro forma revenue provides an apples-to-apples comparison as the company adds promoters and other strategic pieces.
Shares of SFX dropped 8% to $4.30. Analysts at Maxim Group downgraded the stock to "Hold" from "Buy" in a report issued Friday. Albert Fried & Co. downgraded SFX on Wednesday from an "overweight" rating to a "market perform" rating.