Rational Advisors LLC Cuts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Rational Advisors LLC decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,850 shares of the company’s stock after selling 8,000 shares during the period. Rational Advisors LLC’s holdings in Live Nation Entertainment were worth $3,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 19.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after buying an additional 29,669 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Live Nation Entertainment during the second quarter valued at approximately $748,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Live Nation Entertainment by 22.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after purchasing an additional 18,931 shares during the last quarter. Select Equity Group L.P. boosted its position in 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 valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new stake in Live Nation Entertainment during the 2nd quarter valued at $3,985,000. 74.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Rapino sold 98,849 shares of the business’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 transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 0.1 %

LYV stock opened at $117.21 on Tuesday. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $119.47. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $27.00 billion, a P/E ratio of 110.58, a PEG ratio of 2.81 and a beta of 1.33. The company’s 50-day simple moving average is $107.03 and its 200-day simple moving average is $98.30.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Bank of America assumed coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price for the company. Roth Mkm upped their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Macquarie raised their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Live Nation Entertainment 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.