D1 Capital Partners L.P. Sells 1,714,852 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

D1 Capital Partners L.P. lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 48.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,828,680 shares of the company’s stock after selling 1,714,852 shares during the quarter. Live Nation Entertainment accounts for about 3.9% of D1 Capital Partners L.P.’s holdings, making the stock its 8th biggest position. D1 Capital Partners L.P.’s holdings in Live Nation Entertainment were worth $200,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth $31,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. UMB Bank n.a. raised its stake 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 period. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment during the third quarter worth about $41,000. Finally, Family Firm Inc. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter worth approximately $42,000. 74.52% of the stock is owned by institutional investors.

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 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 transaction, the director now owns 53,949 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,799 shares of company stock worth $16,449,718. Insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. 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. Guggenheim boosted their price target 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. Roth Mkm boosted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $141.53.

Live Nation Entertainment Stock Up 0.6 %

Shares of NYSE LYV opened at $139.73 on Friday. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $141.18. The stock has a market capitalization of $32.47 billion, a P/E ratio of 148.65, a PEG ratio of 3.79 and a beta of 1.33. The firm’s 50 day simple moving average is $118.98 and its two-hundred day simple moving average is $103.13. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

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

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.