Versor Investments LP Lowers Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Versor Investments LP cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,750 shares of the company's stock after selling 23,357 shares during the period. Versor Investments LP's holdings in Live Nation Entertainment were worth $1,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Nova Scotia grew its holdings in Live Nation Entertainment by 6.9% during the 3rd quarter. Bank of Nova Scotia now owns 560,768 shares of the company's stock valued at $46,566,000 after purchasing an additional 36,298 shares during the last quarter. Bank of New Hampshire purchased a new position in Live Nation Entertainment during the 4th quarter valued at $1,735,000. Allspring Global Investments Holdings LLC grew its position in Live Nation Entertainment by 13.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 567,995 shares of the company's stock valued at $53,164,000 after acquiring an additional 66,390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Live Nation Entertainment by 77.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,198 shares of the company's stock worth $3,201,000 after purchasing an additional 14,928 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth $1,151,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.0 %

Shares of Live Nation Entertainment stock traded down $0.01 on Friday, reaching $97.02. The stock had a trading volume of 1,658,571 shares, compared to its average volume of 2,796,221. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock has a market capitalization of $22.45 billion, a P/E ratio of 92.40, a P/E/G ratio of 1.96 and a beta of 1.34. The company has a 50 day moving average price of $98.76 and a 200 day moving average price of $92.40. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $107.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company posted ($0.25) earnings per share. The business's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.39 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.85% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the topic of several recent analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a "buy" rating in a report on Monday, May 6th. Redburn Atlantic raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and lifted their target price for the company from $114.00 to $115.00 in a research report on Thursday. TD Cowen reissued a "buy" rating and set a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $116.83.

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.