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

Horizon Kinetics Asset Management LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 position. Horizon Kinetics Asset Management LLC owned 0.15% of Live Nation Entertainment worth $39,012,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. increased its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at about $41,000. Family Firm Inc. acquired a new position in Live Nation Entertainment in the second quarter valued at about $42,000. Finally, Cromwell Holdings LLC boosted its stake in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, 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 value of $536,815.20. Following the completion of the sale, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LYV. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Roth Mkm increased their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Benchmark boosted their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Stock Up 0.5 %

LYV stock opened at $141.04 on Monday. The company’s 50 day moving average is $116.74 and its two-hundred day moving average is $102.27. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $141.04. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market cap of $32.77 billion, a P/E ratio of 149.24, a PEG ratio of 3.80 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. Research analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

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.