Cantillon Capital Management LLC Sells 88,409 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cantillon Capital Management LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,961,520 shares of the company’s stock after selling 88,409 shares during the period. Live Nation Entertainment makes up 2.0% of Cantillon Capital Management LLC’s portfolio, making the stock its 24th biggest position. Cantillon Capital Management LLC’s holdings in Live Nation Entertainment were worth $324,257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new position in Live Nation Entertainment during the second quarter valued at approximately $748,000. CANADA LIFE ASSURANCE Co increased its position in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock valued at $10,873,000 after buying an additional 18,931 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Live Nation Entertainment by 12.3% during the second 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. Davidson Kempner Capital Management LP acquired a new position in Live Nation Entertainment in the second quarter valued at about $3,985,000. Finally, Czech National Bank increased its holdings in shares of Live Nation Entertainment by 17.5% in the third quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after acquiring an additional 4,761 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on LYV. Bank of America boosted their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Guggenheim boosted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $138.57.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $132.60 on Tuesday. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $132.74. The company has a market cap of $30.81 billion, a PE ratio of 141.06, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The business’s 50 day moving average price is $113.54 and its two-hundred day moving average price is $101.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

Insider Activity

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction 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. The trade was a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is currently owned by company insiders.

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.