Axiom Investors LLC DE Sells 27,225 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Axiom Investors LLC DE reduced its ownership in Live Nation Entertainment by 4.6%, selling 27,225 shares, and now holds a total of 567,433 shares valued at approximately $74.1 million.
• Institutional investors own 74.52% of Live Nation's stock, with several firms increasing their stakes during the last quarter, indicating ongoing interest in the company.
• Despite missing earnings estimates with $0.41 EPS, Live Nation reported a revenue of $7.01 billion, surpassing expectations and marking a 16.3% year-over-year growth.

Axiom Investors LLC DE decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 567,433 shares of the company's stock after selling 27,225 shares during the period. Axiom Investors LLC DE owned 0.24% of Live Nation Entertainment worth $74,095,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in shares of Live Nation Entertainment in the fourth quarter valued at about $29,000. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at about $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at about $33,000. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at about $42,000. Finally, GW&K Investment Management LLC lifted its position in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after acquiring an additional 283 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective on the stock. Moffett Nathanson started coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective on the stock. Benchmark increased their price target on Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Oppenheimer lifted their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, Guggenheim reaffirmed a "buy" rating and set a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Eighteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $170.72.

Live Nation Entertainment Trading Up 0.2%

LYV stock traded up $0.43 during midday trading on Friday, reaching $174.49. 139,102 shares of the company traded hands, compared to its average volume of 2,422,777. Live Nation Entertainment, Inc. has a 52-week low of $97.40 and a 52-week high of $175.25. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50 day moving average of $156.53 and a 200-day moving average of $142.79. The firm has a market capitalization of $40.91 billion, a price-to-earnings ratio of 75.46, a P/E/G ratio of 11.53 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company's revenue for the quarter was up 16.3% on a year-over-year basis. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.