DRW Securities LLC Sells 2,421 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

DRW Securities LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 24.6% in the third quarter, HoldingsChannel reports. The fund owned 7,432 shares of the company’s stock after selling 2,421 shares during the period. DRW Securities LLC’s holdings in Live Nation Entertainment were worth $814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Live Nation Entertainment by 119.5% during 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 last quarter. Reston Wealth Management LLC acquired a new position in Live Nation Entertainment in the third quarter valued at about $41,000. Cromwell Holdings LLC boosted its position in shares of 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. UMB Bank n.a. boosted its position in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares during the period. Finally, Family Firm Inc. acquired a new position in shares of Live Nation Entertainment during the second quarter worth about $42,000. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction that occurred 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 owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is currently owned by insiders.

Live Nation Entertainment Trading Up 0.1 %

Shares of Live Nation Entertainment stock opened at $140.46 on Tuesday. 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 cap of $32.64 billion, a PE ratio of 149.43, a PEG ratio of 3.80 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day simple moving average of $117.52 and a two-hundred day simple moving average of $102.58.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results 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. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. Analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on LYV shares. Macquarie upped their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Benchmark upped their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. TD Cowen upped their price objective on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Citigroup increased their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $141.53.

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.