Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Rational Advisors Inc.

Rational Advisors Inc. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 22.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,850 shares of the company's stock after selling 5,500 shares during the quarter. Rational Advisors Inc.'s holdings in Live Nation Entertainment were worth $2,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the fourth quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in Live Nation Entertainment in the first quarter worth approximately $30,000. Chilton Capital Management LLC purchased a new position in Live Nation Entertainment in the first quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment in the fourth quarter worth approximately $40,000. Finally, Private Trust Co. NA grew its position in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.4%

Live Nation Entertainment stock traded down $0.55 during midday trading on Friday, reaching $143.91. The company's stock had a trading volume of 1,596,436 shares, compared to its average volume of 2,343,629. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. The company has a market cap of $33.35 billion, a P/E ratio of 49.12, a P/E/G ratio of 5.60 and a beta of 1.45. The business has a 50-day simple moving average of $143.75 and a 200-day simple moving average of $137.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly 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 net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm's quarterly revenue was down 11.0% on a year-over-year basis. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LYV shares. Guggenheim reiterated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Roth Mkm lowered their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wolfe Research raised their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Rosenblatt Securities lowered their price target on 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. Finally, Benchmark restated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.24.

Live Nation Entertainment Profile

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.