Axiom Investors LLC DE Lowers Stake in Live Nation Entertainment, Inc. $LYV

Axiom Investors LLC DE cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 72.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 121,446 shares of the company’s stock after selling 320,265 shares during the quarter. Axiom Investors LLC DE’s holdings in Live Nation Entertainment were worth $17,306,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LYV. Empowered Funds LLC boosted its position in shares of Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 1,711 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 1.6%

LYV opened at $162.13 on Wednesday. The firm has a market capitalization of $38.19 billion, a P/E ratio of -91.60 and a beta of 1.12. The firm’s 50 day moving average is $161.39 and its 200-day moving average is $152.02. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) EPS. Analysts expect 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 several research analyst reports. Susquehanna raised their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citizens Jmp initiated coverage on shares of Live Nation Entertainment in a research report on Monday, March 30th. They set a “market outperform” rating and a $190.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Guggenheim lifted their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.75.

Insider Buying and Selling

In other news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This represents a 23.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Company 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.