HighVista Strategies LLC Lowers Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

HighVista Strategies LLC decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 14,400 shares of the company’s stock after selling 200 shares during the quarter. HighVista Strategies LLC’s holdings in Live Nation Entertainment were worth $1,577,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LYV. Cromwell Holdings LLC lifted its stake in Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares in the last quarter. Private Advisor Group LLC increased its stake in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares during the period. Vontobel Holding Ltd. boosted its stake in shares of Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after purchasing an additional 95 shares during the period. Empirical Finance LLC grew its holdings in shares of Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after purchasing an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after buying an additional 110 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of LYV opened at $137.72 on Tuesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18. The stock has a market cap of $32.00 billion, a PE ratio of 146.51, a price-to-earnings-growth ratio of 3.75 and a beta of 1.37. The firm has a fifty day moving average price of $120.38 and a 200 day moving average price of $103.79.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.78 EPS. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

LYV has been the subject of several recent research reports. Macquarie raised their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Roth Mkm boosted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Guggenheim increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen lifted their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.53.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the sale, the director now directly owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.