Tudor Investment Corp ET AL Reduces Stock Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Tudor Investment Corp cut its stake in Live Nation by 57.9%, selling 70,000 shares in Q3 and leaving 51,000 shares valued at about $8.33 million.
• Live Nation reported EPS of ($1.06), missing estimates by $0.06, but revenue beat at $6.31 billion, up 11.1% year-over-year.
• Institutional investors own 74.52% of the stock; analysts have a consensus "Moderate Buy" rating with an average target price of $184.40 (market cap ≈ $35B).

Tudor Investment Corp ET AL cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 57.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,000 shares of the company's stock after selling 70,000 shares during the quarter. Tudor Investment Corp ET AL's holdings in Live Nation Entertainment were worth $8,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. raised its stake in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. purchased a new stake in Live Nation Entertainment during the third quarter valued at $33,000. Heartwood Wealth Advisors LLC bought a new position in Live Nation Entertainment in the third quarter valued at about $34,000. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the third quarter worth about $37,000. Finally, Root Financial Partners LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $148.99 on Monday. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $34.98 billion, a P/E ratio of -620.79 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1-year low of $113.20 and a 1-year high of $175.25. The company's 50-day moving average is $152.25 and its 200 day moving average is $149.81.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company's quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 944 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Zacks Research downgraded Live Nation Entertainment from a "hold" rating to a "strong sell" rating in a research note on Friday, January 16th. Benchmark reiterated a "buy" rating on shares of Live Nation Entertainment in a report on Thursday, February 19th. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a report on Monday, February 23rd. Bank of America boosted their target price on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Finally, Roth Mkm reiterated a "buy" rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $184.40.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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