Penserra Capital Management LLC Cuts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Penserra Capital Management LLC lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 33.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 725 shares of the company’s stock after selling 366 shares during the period. Penserra Capital Management LLC’s holdings in Live Nation Entertainment were worth $93,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the 1st quarter valued at $33,000. HM Payson & Co. raised its stake in shares of Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock valued at $150,000 after acquiring an additional 100 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment in the 1st quarter valued at $30,000. IFM Investors Pty Ltd raised its stake in shares of Live Nation Entertainment by 7.3% in the 1st quarter. IFM Investors Pty Ltd now owns 30,486 shares of the company’s stock valued at $3,981,000 after acquiring an additional 2,074 shares during the period. Finally, OneDigital Investment Advisors LLC increased its stake in Live Nation Entertainment by 8.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,968 shares of the company’s stock worth $257,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.4%

NYSE LYV opened at $143.91 on Friday. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The company has a 50-day simple moving average of $143.75 and a 200-day simple moving average of $137.47. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $33.35 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 5.58 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LYV shares. Wolfe Research lifted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and set a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a “positive” rating in a research note on Tuesday, June 10th. Finally, Roth Mkm dropped their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president directly owned 189,456 shares of the company’s stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.01% of the company’s stock.

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.