Duality Advisers LP Lowers Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Duality Advisers LP lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 74.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,340 shares of the company’s stock after selling 9,945 shares during the period. Duality Advisers LP’s holdings in Live Nation Entertainment were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LYV. Canada Pension Plan Investment Board increased its holdings in Live Nation Entertainment by 5.1% during the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock worth $730,863,000 after buying an additional 429,650 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Live Nation Entertainment by 0.5% during the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock worth $590,301,000 after buying an additional 33,215 shares during the last quarter. Findlay Park Partners LLP increased its holdings in Live Nation Entertainment by 55.1% during the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock worth $254,060,000 after buying an additional 1,087,264 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Live Nation Entertainment by 5.7% during the third quarter. William Blair Investment Management LLC now owns 2,671,703 shares of the company’s stock worth $221,858,000 after buying an additional 144,326 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its holdings in Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after buying an additional 726,000 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Oppenheimer increased their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is currently owned by insiders.

Live Nation Entertainment Price Performance

LYV stock opened at $89.83 on Friday. The firm has a 50 day moving average of $98.87 and a 200-day moving average of $91.52. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment, Inc. has a 12 month low of $65.20 and a 12 month high of $107.24. The firm has a market capitalization of $20.73 billion, a P/E ratio of 67.54 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.62 earnings per share for the current fiscal year.

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.