AXQ Capital LP Decreases Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• AXQ Capital LP cut its Live Nation Entertainment stake by 80.2% in the fourth quarter, selling 7,116 shares and ending with 1,759 shares valued at about $251,000.
• Live Nation reported mixed quarterly results, with EPS of ($1.85) missing estimates but revenue of $3.79 billion beating expectations and rising 12.1% year over year.
• Despite recent selling by insiders, Wall Street remains positive: analysts have a Moderate Buy consensus on LYV with an average price target of $187.75.

AXQ Capital LP lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 80.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,759 shares of the company's stock after selling 7,116 shares during the quarter. AXQ Capital LP's holdings in Live Nation Entertainment were worth $251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Root Financial Partners LLC lifted its position in Live Nation Entertainment by 37.4% during the fourth quarter. Root Financial Partners LLC now owns 312 shares of the company's stock valued at $44,000 after purchasing an additional 85 shares during the last quarter. One Capital Management LLC bought a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $242,000. Clear Harbor Asset Management LLC lifted its position in Live Nation Entertainment by 18.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 2,860 shares of the company's stock valued at $408,000 after purchasing an additional 450 shares during the last quarter. MUFG Securities EMEA plc lifted its position in Live Nation Entertainment by 114.4% during the fourth quarter. MUFG Securities EMEA plc now owns 6,473 shares of the company's stock valued at $922,000 after purchasing an additional 3,454 shares during the last quarter. Finally, Texas Yale Capital Corp. raised its stake in shares of Live Nation Entertainment by 40.2% during the fourth quarter. Texas Yale Capital Corp. now owns 8,025 shares of the company's stock worth $1,144,000 after acquiring an additional 2,300 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.5%

Shares of LYV opened at $160.13 on Friday. The company has a market cap of $37.72 billion, a PE ratio of -90.47 and a beta of 1.12. The business has a fifty day moving average of $160.87 and a 200 day moving average of $151.46. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) EPS. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LYV. Susquehanna lifted their target price on shares of Live Nation Entertainment from $180.00 to $181.00 in a research note on Wednesday, May 6th. Morgan Stanley reissued an "overweight" rating and set a $185.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Oppenheimer reissued an "outperform" rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company reduced their price objective on shares of Live Nation Entertainment from $203.00 to $199.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average price target of $187.75.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,776 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares of the company's stock, valued at $33,622,555.84. This represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John Hopmans sold 93,078 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 157,798 shares of company stock valued at $26,088,615 over the last quarter. 2.89% of the stock is currently owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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