Live Nation Entertainment, Inc. $LYV Shares Sold by Tudor Investment Corp ET AL
by Scott Moore · The Cerbat GemTudor Investment Corp ET AL cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 57.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 51,000 shares of the company’s stock after selling 70,000 shares during the period. Tudor Investment Corp ET AL’s holdings in Live Nation Entertainment were worth $8,333,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Ameriflex Group Inc. raised its holdings in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. Atwood & Palmer Inc. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. Finally, Root Financial Partners LLC acquired a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Live Nation Entertainment
In related news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.01% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. UBS Group upped their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wall Street Zen downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Sanford C. Bernstein upped their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Roth Mkm restated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Twenty-one research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.19.
Live Nation Entertainment Trading Up 2.7%
LYV stock opened at $159.96 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25. The company has a market cap of $37.56 billion, a price-to-earnings ratio of -666.49 and a beta of 1.15. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The business has a fifty day simple moving average of $154.06 and a 200-day simple moving average of $148.54.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.
Live Nation Entertainment Profile
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
See Also
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