Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.7% during the third quarter, Holdings Channel reports. The institutional investor owned 356,309 shares of the company’s stock after selling 9,950 shares during the quarter. Live Nation Entertainment comprises 0.6% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Horizon Kinetics Asset Management LLC’s holdings in Live Nation Entertainment were worth $39,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYV. Select Equity Group L.P. lifted its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. lifted its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after acquiring an additional 1,093,000 shares during the period. Vulcan Value Partners LLC lifted its position in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after acquiring an additional 476,981 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in Live Nation Entertainment in the second quarter valued at $20,453,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 over the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $141.04 on Monday. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 149.24, a PEG ratio of 3.80 and a beta of 1.33. The firm has a 50 day moving average price of $116.74 and a 200 day moving average price of $102.27. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $141.04. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data 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. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the company posted $1.78 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Bank of America lifted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Roth Mkm raised their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

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.