JAT Capital Mgmt LP Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

JAT Capital Mgmt LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 98.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,796 shares of the company’s stock after selling 224,046 shares during the quarter. JAT Capital Mgmt LP’s holdings in Live Nation Entertainment were worth $306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LYV. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Live Nation Entertainment by 55.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after acquiring an additional 387,008 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Live Nation Entertainment by 0.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 488,866 shares of the company’s stock valued at $53,526,000 after acquiring an additional 3,200 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. MetLife Investment Management LLC now owns 47,931 shares of the company’s stock valued at $5,248,000 after acquiring an additional 2,342 shares during the last quarter. Townsquare Capital LLC increased its holdings in shares of Live Nation Entertainment by 24.9% in the 3rd quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after acquiring an additional 870 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $31,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 1.0 %

Shares of LYV stock opened at $138.29 on Friday. The stock has a fifty day moving average of $119.69 and a two-hundred day moving average of $103.38. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $141.18. The firm has a market capitalization of $32.13 billion, a PE ratio of 147.12, a price-to-earnings-growth ratio of 3.79 and a beta of 1.33. 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 announced its earnings results 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 during the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business posted $1.78 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LYV shares. Rosenblatt Securities reiterated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Guggenheim boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Evercore ISI boosted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Roth Mkm boosted their price objective 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. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $141.53.

Insider Activity at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the sale, the director now directly owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This 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 valued at $16,449,718 over the last 90 days. 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.