Live Nation Entertainment, Inc. $LYV Shares Sold by Kintayl Capital LP

Key Points

• Kintayl Capital LP trimmed its stake in Live Nation (LYV) by 37.2% in Q3, selling 15,148 shares and leaving 25,601 shares valued at about $4.18 million, making LYV its 16th-largest holding.
• Director Jeffrey T. Hinson sold 944 shares on March 10 at an average price of $165.87 (a 1.93% reduction), while corporate insiders own 2.72% of the stock and institutional investors hold roughly 74.5%.
• Analysts are broadly positive with a MarketBeat consensus of "Moderate Buy" and a $184.40 average target; Live Nation recently reported a revenue beat ($6.31B vs. $6.12B) but missed EPS expectations (-$1.06 vs. -$1.00).

Kintayl Capital LP trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 37.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,601 shares of the company's stock after selling 15,148 shares during the period. Live Nation Entertainment comprises approximately 2.6% of Kintayl Capital LP's holdings, making the stock its 16th largest holding. Kintayl Capital LP's holdings in Live Nation Entertainment were worth $4,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ameriflex Group Inc. increased its stake in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. bought a new position in Live Nation Entertainment during the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC acquired a new position in Live Nation Entertainment during the 3rd quarter worth $34,000. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $37,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $37,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYV. Moffett Nathanson decreased their price target on Live Nation Entertainment from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, January 22nd. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $175.00 to $190.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Roth Mkm reiterated a "buy" rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Bank of America boosted their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a report on Friday, February 20th. Finally, Sanford C. Bernstein upped their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $184.40.

Live Nation Entertainment Price Performance

LYV opened at $157.05 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The company's 50-day moving average price is $151.59 and its 200 day moving average price is $150.13. Live Nation Entertainment, Inc. has a fifty-two week low of $113.20 and a fifty-two week high of $175.25. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of -654.39 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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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