Live Nation Entertainment, Inc. (NYSE:LYV) Stock Holdings Lowered by Fernbridge Capital Management LP

Fernbridge Capital Management LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 31.7% in the third quarter, HoldingsChannel reports. The firm owned 414,909 shares of the company’s stock after selling 192,188 shares during the period. Live Nation Entertainment accounts for about 2.8% of Fernbridge Capital Management LP’s holdings, making the stock its 10th biggest holding. Fernbridge Capital Management LP’s holdings in Live Nation Entertainment were worth $45,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYV. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the third quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Live Nation Entertainment during the third quarter worth $41,000. Cromwell Holdings LLC increased its stake 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 purchasing an additional 88 shares in the last quarter. Finally, UMB Bank n.a. raised 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. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $138.87 on Wednesday. The business’s fifty day simple moving average is $117.52 and its 200-day simple moving average is $102.58. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $32.27 billion, a PE ratio of 147.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.33. Live Nation Entertainment, Inc. has a 52 week low of $81.38 and a 52 week high of $141.18.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the business earned $1.78 earnings per share. Equities analysts forecast that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on LYV. Oppenheimer boosted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Citigroup increased their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. TD Cowen lifted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Guggenheim raised their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI upped their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $141.53.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction 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 transaction, the director now owns 53,949 shares in the company, valued at $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the sale, the chief executive officer now owns 3,702,115 shares in the company, 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. Insiders sold a total of 168,799 shares of company stock worth $16,449,718 over the last ninety days. Company insiders own 2.72% of the company’s stock.

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.