Tpg Gp A LLC Sells 110,689 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Tpg Gp A LLC trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 700,871 shares of the company's stock after selling 110,689 shares during the period. Live Nation Entertainment accounts for about 1.5% of Tpg Gp A LLC's portfolio, making the stock its 15th biggest holding. Tpg Gp A LLC owned approximately 0.30% of Live Nation Entertainment worth $90,763,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LYV. Assenagon Asset Management S.A. lifted its position in shares of Live Nation Entertainment by 13.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,148 shares of the company's stock valued at $4,422,000 after buying an additional 4,154 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Live Nation Entertainment by 44.5% in the fourth quarter. Park Avenue Securities LLC now owns 2,998 shares of the company's stock valued at $388,000 after buying an additional 923 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $310,000. Empirical Asset Management LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $925,000. Finally, Avanza Fonder AB acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $1,638,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $147.80 on Monday. The stock has a market capitalization of $34.26 billion, a PE ratio of 54.34, a P/E/G ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $129.40 and a two-hundred day moving average price of $134.11. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

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

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock worth $10,497,143. Insiders own 3.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LYV. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. 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 lowered their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $162.07.

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.

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