Y Intercept Hong Kong Ltd Reduces Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Y Intercept Hong Kong Ltd reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 91.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,441 shares of the company’s stock after selling 26,253 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Live Nation Entertainment were worth $316,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $38,000. Morse Asset Management Inc acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $44,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Stock Down 1.0 %

Shares of Live Nation Entertainment stock opened at $141.96 on Tuesday. The business’s fifty day moving average price is $140.44 and its two-hundred day moving average price is $124.94. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $33.13 billion, a P/E ratio of 52.19, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LYV shares. JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Oppenheimer lifted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Finally, Guggenheim lifted their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.00.

Live Nation Entertainment Company 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.