Reinhart Partners LLC. Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Reinhart Partners LLC. lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,200 shares of the company's stock after selling 5,017 shares during the quarter. Reinhart Partners LLC.'s holdings in Live Nation Entertainment were worth $9,167,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $837,000. Blue Trust Inc. grew its position in Live Nation Entertainment by 21.7% in the 4th quarter. Blue Trust Inc. now owns 644 shares of the company's stock valued at $83,000 after buying an additional 115 shares during the last quarter. Greenleaf Trust acquired a new position in Live Nation Entertainment in the 4th quarter valued at $205,000. Mirae Asset Global Investments Co. Ltd. raised its position in Live Nation Entertainment by 27.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,135 shares of the company's stock worth $3,174,000 after buying an additional 5,230 shares during the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Live Nation Entertainment by 6.3% in the 4th quarter. Bleakley Financial Group LLC now owns 10,498 shares of the company's stock worth $1,359,000 after acquiring an additional 619 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 0.2%

NYSE:LYV opened at $144.29 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a fifty day simple moving average of $134.81 and a 200-day simple moving average of $135.72. The company has a market capitalization of $33.44 billion, a PE ratio of 53.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business's revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of a number of recent analyst reports. Roth Mkm dropped their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Rosenblatt Securities reduced their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Benchmark reaffirmed a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Sanford C. Bernstein started coverage on Live Nation Entertainment in a report on Wednesday. They issued an "outperform" rating and a $185.00 target price for the company. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $163.50.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the business'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 completion of the transaction, the executive vice president now directly owns 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, the director now owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,374 shares of company stock valued at $5,815,812. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.

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