Quantinno Capital Management LP Acquires 1,223 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Quantinno Capital Management LP increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,397 shares of the company’s stock after buying an additional 1,223 shares during the period. Quantinno Capital Management LP’s holdings in Live Nation Entertainment were worth $3,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Live Nation Entertainment by 1.8% during the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares in the last quarter. D1 Capital Partners L.P. grew its position in shares of Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after buying an additional 1,093,000 shares during the last quarter. Finally, Vulcan Value Partners LLC raised its stake 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 worth $252,663,000 after acquiring an additional 855,197 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the topic of several analyst reports. Bank of America lifted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Oppenheimer upped their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Macquarie increased their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Citigroup upped their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.13.

Live Nation Entertainment Stock Down 2.0 %

Shares of LYV opened at $134.03 on Tuesday. The stock’s 50-day moving average price is $123.82 and its 200-day moving average price is $105.39. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $31.14 billion, a price-to-earnings ratio of 142.59, a PEG ratio of 3.71 and a beta of 1.37. Live Nation Entertainment, Inc. has a 52 week low of $85.08 and a 52 week high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the company earned $1.78 EPS. The business’s revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 163,159 shares of company stock valued at $15,912,903. Corporate insiders own 2.72% of the company’s stock.

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.