Reinhart Partners LLC. Reduces Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Reinhart Partners LLC. cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 165,900 shares of the company’s stock after selling 14,094 shares during the period. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $18,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. American Trust raised its stake in Live Nation Entertainment by 19.4% in the 4th quarter. American Trust now owns 5,430 shares of the company’s stock valued at $508,000 after acquiring an additional 884 shares during the period. American International Group Inc. increased its stake in shares of Live Nation Entertainment by 3.6% in the fourth quarter. American International Group Inc. now owns 39,330 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,373 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Live Nation Entertainment by 22.5% in the first quarter. GAMMA Investing LLC now owns 2,107 shares of the company’s stock valued at $223,000 after purchasing an additional 387 shares during the period. Mather Group LLC. purchased a new stake in shares of Live Nation Entertainment during the 1st quarter valued at approximately $165,000. Finally, Rise Advisors LLC boosted its holdings in Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.9 %

Shares of NYSE:LYV opened at $114.81 on Friday. The firm has a market capitalization of $26.44 billion, a PE ratio of 108.31, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $115.27. The firm has a fifty day moving average of $100.20 and a 200 day moving average of $96.89.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. Live Nation Entertainment’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 earnings per share. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Benchmark restated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Macquarie upped their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America started coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.85.

Insiders Place Their Bets

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is currently owned by corporate insiders.

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.