Reinhart Partners LLC. Lowers Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Reinhart Partners LLC reduced its stake in Live Nation Entertainment by 8.3%, owning 64,392 shares valued at approximately $9.74 million after a recent sale.
• Multiple large investors, including Vanguard Group and Canada Pension Plan Investment Board, have increased their positions in Live Nation, reflecting strong institutional interest with 74.52% of shares held by institutional investors.
• Live Nation Entertainment reported a quarterly revenue of $7.01 billion, surpassing estimates, although it recorded an EPS of $0.41 which missed analysts' expectations.

Reinhart Partners LLC. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 8.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,392 shares of the company's stock after selling 5,808 shares during the period. Reinhart Partners LLC.'s holdings in Live Nation Entertainment were worth $9,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LYV. Wayfinding Financial LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $30,000. Chilton Capital Management LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $33,000. GW&K Investment Management LLC boosted its position in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after purchasing an additional 283 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Live Nation Entertainment in the 1st quarter worth approximately $42,000. Finally, Private Trust Co. NA boosted its position in Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

LYV has been the topic of several recent research reports. Citigroup upped their price objective on Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 9th. Oppenheimer upped their target price on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Moffett Nathanson started coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 target price for the company. Finally, Sanford C. Bernstein started coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Eighteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $170.68.

Live Nation Entertainment Trading Down 0.6%

Shares of NYSE LYV traded down $0.99 during mid-day trading on Friday, reaching $163.69. 3,822,583 shares of the company's stock were exchanged, compared to its average volume of 2,047,208. The firm has a market capitalization of $38.38 billion, a price-to-earnings ratio of 70.86, a PEG ratio of 11.04 and a beta of 1.42. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a 52-week low of $102.72 and a 52-week high of $175.25. The company's 50-day moving average is $159.36 and its 200-day moving average is $143.98.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The business had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.