Live Nation Entertainment, Inc. $LYV Stock Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 31.6% in the 2nd quarter, Holdings Channel reports. The fund owned 1,891,959 shares of the company’s stock after selling 873,002 shares during the period. Wellington Management Group LLP’s holdings in Live Nation Entertainment were worth $346,437,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Live Nation Entertainment in the second quarter worth $1,221,398,000. Canada Pension Plan Investment Board acquired a new stake in Live Nation Entertainment during the 2nd quarter worth about $859,018,000. Norges Bank purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $285,924,000. Sachem Head Capital Management LP purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $173,380,000. Finally, Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after buying an additional 1,099,350 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Roth Capital set a $208.00 price target on shares of Live Nation Entertainment in a research note on Friday, July 31st. Susquehanna lifted their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a report on Friday, July 31st. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. BTIG Research reiterated a “buy” rating and issued a $215.00 target price on shares of Live Nation Entertainment in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 17th. Twenty analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Trading Down 0.4%

NYSE:LYV opened at $180.84 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company’s 50 day moving average is $181.24 and its 200-day moving average is $167.90. The firm has a market cap of $42.61 billion, a price-to-earnings ratio of -160.04 and a beta of 1.12. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $189.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The company had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 EPS for the current year.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total value of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at approximately $1,592,520. This represents a 25.10% 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 this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company 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.