Live Nation Entertainment, Inc. $LYV Shares Sold by AXQ Capital LP

AXQ Capital LP lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 80.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,759 shares of the company’s stock after selling 7,116 shares during the quarter. AXQ Capital LP’s holdings in Live Nation Entertainment were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LYV. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock valued at $3,378,970,000 after acquiring an additional 372,715 shares during the last quarter. Principal Financial Group Inc. grew its stake in Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after buying an additional 1,001,905 shares during the last quarter. Capital World Investors grew its stake in Live Nation Entertainment by 4.8% during the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after buying an additional 237,342 shares during the last quarter. Geode Capital Management LLC grew its stake in Live Nation Entertainment by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after buying an additional 20,165 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after buying an additional 123,800 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $160.13 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $175.25. The firm has a 50 day moving average of $160.87 and a 200-day moving average of $151.46. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a market capitalization of $37.72 billion, a P/E ratio of -90.47 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the firm posted ($0.32) EPS. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research reports. Guggenheim raised their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Bank of America increased their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Wells Fargo & Company decreased their price objective on Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.75.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 157,798 shares of company stock valued at $26,088,615 in the last three months. 2.89% of the stock is currently owned by company insiders.

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.