RBO & Co. LLC Sells 31,776 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

RBO & Co. LLC lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,792 shares of the company’s stock after selling 31,776 shares during the period. Live Nation Entertainment accounts for approximately 2.1% of RBO & Co. LLC’s holdings, making the stock its 26th biggest position. RBO & Co. LLC owned 0.05% of Live Nation Entertainment worth $13,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. Cromwell Holdings LLC lifted its holdings in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares during the period. Private Advisor Group LLC raised its stake in Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares during the period. Vontobel Holding Ltd. increased its holdings in Live Nation Entertainment by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC boosted its stake in Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after buying an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its holdings in shares of Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. TD Cowen boosted their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Trading Down 1.2 %

Shares of NYSE LYV opened at $138.87 on Wednesday. The business has a fifty day moving average price of $117.52 and a 200 day moving average price of $102.58. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18. 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 stock has a market capitalization of $32.27 billion, a P/E ratio of 147.73, a price-to-earnings-growth ratio of 3.81 and a beta of 1.33.

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, topping 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 return on equity of 77.62% and a net margin of 2.11%. The firm’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 earned $1.78 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Rapino sold 98,849 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade 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 valued at $16,449,718. Insiders own 2.72% of the company’s stock.

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.