HighTower Advisors LLC Has $25.80 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• HighTower Advisors LLC cut its stake in Live Nation Entertainment by 8.5% in the fourth quarter, selling 16,829 shares and leaving it with 181,061 shares worth about $25.8 million.
• Several institutional investors increased their positions, and 74.52% of Live Nation’s stock is now held by institutions, highlighting continued large-scale investor interest in the company.
• Live Nation reported a quarterly earnings miss, posting -$1.85 EPS versus an expected -$0.35, even though revenue of $3.79 billion topped estimates and rose 12.1% year over year; analysts still largely remain bullish with a consensus Moderate Buy rating and a $187.75 price target.

HighTower Advisors LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,061 shares of the company's stock after selling 16,829 shares during the period. HighTower Advisors LLC owned approximately 0.08% of Live Nation Entertainment worth $25,801,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 22.1% in the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Live Nation Entertainment by 70.0% in the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company's stock worth $262,733,000 after purchasing an additional 759,363 shares in the last quarter. Woodline Partners LP increased its stake in Live Nation Entertainment by 3,475.4% during the 3rd quarter. Woodline Partners LP now owns 609,574 shares of the company's stock valued at $99,604,000 after purchasing an additional 592,525 shares in the last quarter. Holocene Advisors LP raised its holdings in Live Nation Entertainment by 127.6% during the third quarter. Holocene Advisors LP now owns 814,163 shares of the company's stock worth $133,034,000 after buying an additional 456,373 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Live Nation Entertainment by 1,853.0% in the third quarter. Tidal Investments LLC now owns 463,901 shares of the company's stock valued at $75,801,000 after buying an additional 440,148 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 944 shares of the company's stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director owned 48,030 shares of the company's stock, valued at $7,966,736.10. This represents a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 157,798 shares of company stock worth $26,088,615 over the last ninety days. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $165.74 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The company's 50-day moving average is $158.63 and its 200 day moving average is $149.75. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $39.04 billion, a P/E ratio of -93.64 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the previous year, the firm earned ($0.32) earnings per share. The firm's revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen restated a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. UBS Group increased their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Citizens Jmp initiated coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a "market outperform" rating and a $190.00 price objective on the stock. Finally, Benchmark reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $187.75.

Live Nation Entertainment Company Profile

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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