D1 Capital Partners L.P. Sells 1,714,852 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

D1 Capital Partners L.P. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 48.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,828,680 shares of the company’s stock after selling 1,714,852 shares during the quarter. Live Nation Entertainment comprises 3.9% of D1 Capital Partners L.P.’s holdings, making the stock its 8th biggest position. D1 Capital Partners L.P. owned approximately 0.79% of Live Nation Entertainment worth $200,222,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Frank Rimerman Advisors LLC bought a new position in shares of Live Nation Entertainment during the second quarter worth about $748,000. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Live Nation Entertainment in the second quarter worth $3,985,000. Czech National Bank increased its stake in Live Nation Entertainment by 17.5% in the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock valued at $3,493,000 after buying an additional 4,761 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Live Nation Entertainment by 48.3% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after acquiring an additional 16,668 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 4.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $139.73 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $141.18. The firm has a market capitalization of $32.47 billion, a price-to-earnings ratio of 148.65, a P/E/G ratio of 3.79 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s 50 day simple moving average is $118.98 and its 200 day simple moving average is $103.13.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 EPS. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Benchmark upped their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI boosted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Bank of America increased their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Roth Mkm increased their price objective on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.53.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.