Live Nation Entertainment, Inc. $LYV Shares Sold by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE cut its Live Nation stake sharply in the fourth quarter, selling 320,265 shares and reducing its position by 72.5% to 121,446 shares worth about $17.3 million.
• Insider selling picked up in May, with EVP Michael Rowles and EVP John Hopmans both selling large blocks of stock, reducing their ownership positions by 23.75% and 33.03%, respectively.
• Analysts remain broadly bullish on LYV, with 20 Buy ratings and 3 Hold ratings, giving the stock a consensus “Moderate Buy” and an average price target of $187.75.

Axiom Investors LLC DE lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 72.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 121,446 shares of the company's stock after selling 320,265 shares during the period. Axiom Investors LLC DE owned approximately 0.05% of Live Nation Entertainment worth $17,306,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LYV. Leonteq Securities AG acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth $25,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $26,000. Ameriflex Group Inc. increased its holdings in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $30,000. Finally, Blue Trust Inc. increased its holdings in shares of Live Nation Entertainment by 62.6% in the 4th quarter. Blue Trust Inc. now owns 278 shares of the company's stock valued at $40,000 after purchasing an additional 107 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on LYV shares. TD Cowen reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Benchmark reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Live Nation Entertainment in a report on Thursday, June 4th. Evercore reiterated an "outperform" rating and issued a $198.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Rothschild & Co Redburn increased their price target on shares of Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $187.75.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the firm's stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the firm's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company's stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company's stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $162.13 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The firm has a 50-day moving average price of $161.39 and a two-hundred day moving average price of $152.02. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The company has a market capitalization of $38.19 billion, a P/E ratio of -91.60 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $3.79 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter last year, the business posted ($0.32) earnings per share. The business's revenue was up 12.1% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

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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