Hilton Capital Management LLC Decreases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Hilton Capital Management LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,856 shares of the company’s stock after selling 3,207 shares during the quarter. Hilton Capital Management LLC’s holdings in Live Nation Entertainment were worth $2,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the 3rd quarter valued at about $41,000. Family Firm Inc. bought a new stake in Live Nation Entertainment during the second quarter worth about $42,000. Finally, Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after purchasing an additional 88 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 1.4 %

LYV stock opened at $134.44 on Wednesday. The business’s 50-day moving average price is $114.31 and its 200-day moving average price is $101.37. The stock has a market cap of $31.24 billion, a P/E ratio of 143.02, a PEG ratio of 3.44 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $134.53.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of several recent research reports. Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday. Benchmark lifted their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Oppenheimer increased their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock worth $16,449,718 over the last 90 days. 2.72% of the stock is owned by insiders.

About Live Nation Entertainment

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.