Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 90.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,379 shares of the company's stock after selling 30,769 shares during the period. Assenagon Asset Management S.A.'s holdings in Live Nation Entertainment were worth $441,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LYV. Independent Franchise Partners LLP grew its stake in Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares in the last quarter. Groupama Asset Managment bought a new position in Live Nation Entertainment in the 4th quarter worth about $259,000,000. Norges Bank bought a new position in Live Nation Entertainment in the 4th quarter worth about $255,955,000. Jericho Capital Asset Management L.P. grew its stake in Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after acquiring an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth approximately $88,394,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 1.4%

Shares of LYV traded up $2.01 during midday trading on Monday, hitting $150.88. 2,525,299 shares of the company's stock traded hands, compared to its average volume of 2,351,461. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The firm's fifty day moving average is $138.90 and its 200-day moving average is $136.21. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The stock has a market capitalization of $34.97 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 5.90 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the prior year, the company posted $0.60 EPS. The business's revenue for the quarter was down 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president now directly owns 189,456 shares of the company's stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by insiders.

Analyst Ratings Changes

LYV has been the subject of several research reports. Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Benchmark reaffirmed a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Guggenheim reaffirmed a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target for the company. Finally, Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.24.

Live Nation Entertainment Company 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.