Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Covestor Ltd

Covestor Ltd cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 16.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,162 shares of the company’s stock after selling 234 shares during the period. Covestor Ltd’s holdings in Live Nation Entertainment were worth $127,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Quantum Private Wealth LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter worth about $224,000. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after acquiring an additional 87,032 shares in the last quarter. Amalgamated Bank lifted its position in shares of Live Nation Entertainment by 3.8% in the 3rd quarter. Amalgamated Bank now owns 33,055 shares of the company’s stock worth $3,619,000 after buying an additional 1,210 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Live Nation Entertainment by 7.0% in the third quarter. QRG Capital Management Inc. now owns 15,517 shares of the company’s stock valued at $1,699,000 after acquiring an additional 1,017 shares during the period. Finally, Van ECK Associates Corp grew its stake in Live Nation Entertainment by 0.8% during the 3rd quarter. Van ECK Associates Corp now owns 50,783 shares of the company’s stock worth $5,826,000 after buying an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Benchmark restated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Macquarie boosted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Oppenheimer upped their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Bank of America initiated coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. Finally, Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.73.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Brian Capo sold 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 over the last 90 days. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

LYV opened at $123.85 on Tuesday. The stock has a 50-day moving average of $110.04 and a 200-day moving average of $99.68. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $127.64. The company has a market cap of $28.53 billion, a PE ratio of 116.84, a price-to-earnings-growth ratio of 3.03 and a beta of 1.33.

About Live Nation Entertainment

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.