Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by D1 Capital Partners L.P.

D1 Capital Partners L.P. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 45.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,004,776 shares of the company's stock after selling 823,904 shares during the period. Live Nation Entertainment accounts for about 2.2% of D1 Capital Partners L.P.'s portfolio, making the stock its 16th largest position. D1 Capital Partners L.P. owned approximately 0.43% of Live Nation Entertainment worth $130,118,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $42,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $44,000. Independence Bank of Kentucky acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth $45,000. Finally, Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the third quarter worth $42,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Benchmark reaffirmed a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Bank of America increased their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Morgan Stanley increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $174.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average target price of $160.00.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded down $1.89 during trading on Tuesday, reaching $131.38. 546,633 shares of the company's stock traded hands, compared to its average volume of 2,459,632. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market cap of $30.66 billion, a PE ratio of 48.30, a P/E/G ratio of 1.81 and a beta of 1.31. The company has a 50-day simple moving average of $129.81 and a 200-day simple moving average of $132.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.