Nisa Investment Advisors LLC Sells 10,705 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Nisa Investment Advisors LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 39.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,751 shares of the company's stock after selling 10,705 shares during the quarter. Nisa Investment Advisors LLC's holdings in Live Nation Entertainment were worth $2,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Independent Franchise Partners LLP raised its holdings in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $259,000,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth about $255,955,000. Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after buying an additional 777,105 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Live Nation Entertainment in the 4th quarter valued at about $88,394,000. Institutional investors own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on LYV. Roth Mkm decreased their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Rosenblatt Securities reduced their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Benchmark reissued a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $165.24.

Live Nation Entertainment Stock Down 0.6%

LYV traded down $0.85 during trading on Tuesday, hitting $147.61. 318,688 shares of the company's stock traded hands, compared to its average volume of 2,331,835. Live Nation Entertainment, Inc. has a 12-month low of $87.33 and a 12-month high of $157.75. The company's 50 day simple moving average is $143.75 and its two-hundred day simple moving average is $137.49. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 5.58 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The business had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the firm posted $0.60 EPS. Live Nation Entertainment's quarterly revenue was down 11.0% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares of the company's stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.72% of the company's stock.

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.