Bornite Capital Management LP Sells 100,000 Shares of Live Nation Entertainment, Inc. $LYV

Bornite Capital Management LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 50.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after selling 100,000 shares during the period. Live Nation Entertainment accounts for approximately 1.5% of Bornite Capital Management LP’s investment portfolio, making the stock its 26th biggest holding. Bornite Capital Management LP’s holdings in Live Nation Entertainment were worth $16,340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vident Advisory LLC raised its stake in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA raised its position in shares of Live Nation Entertainment by 24.4% in the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after purchasing an additional 82 shares during the last quarter. Greenleaf Trust boosted its stake in Live Nation Entertainment by 5.8% in the 3rd quarter. Greenleaf Trust now owns 1,680 shares of the company’s stock worth $275,000 after purchasing an additional 92 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after purchasing an additional 109 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Live Nation Entertainment by 4.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,570 shares of the company’s stock valued at $420,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LYV shares. JPMorgan Chase & Co. dropped their price objective on shares of Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. Roth Mkm set a $174.00 price target on Live Nation Entertainment in a research note on Thursday, February 12th. Guggenheim reduced their price objective on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Zacks Research lowered Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Finally, Moffett Nathanson reduced their price target on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $172.45.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $156.82 on Thursday. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $36.81 billion, a price-to-earnings ratio of 113.64, a PEG ratio of 10.61 and a beta of 1.18. The firm’s 50 day simple moving average is $145.41 and its 200-day simple moving average is $150.13. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25.

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.