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

Reinhart Partners LLC. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 54.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,217 shares of the company’s stock after selling 90,683 shares during the period. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $9,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYV. Acadian Asset Management LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter valued at $419,000. Choreo LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter valued at $300,000. Daiwa Securities Group Inc. boosted its stake in Live Nation Entertainment by 8.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock valued at $1,577,000 after purchasing an additional 1,357 shares during the last quarter. Federated Hermes Inc. boosted its stake in Live Nation Entertainment by 21.8% during the 2nd quarter. Federated Hermes Inc. now owns 218,082 shares of the company’s stock valued at $20,443,000 after purchasing an additional 39,071 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $0.64 during trading on Monday, reaching $129.15. 435,694 shares of the stock traded hands, compared to its average volume of 1,563,014. The company has a market capitalization of $30.01 billion, a price-to-earnings ratio of 137.39, a P/E/G ratio of 3.68 and a beta of 1.38. The business has a fifty day simple moving average of $132.39 and a two-hundred day simple moving average of $112.20. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 52-week low of $86.67 and a 52-week high of $141.18.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the business posted $1.78 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LYV shares. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Benchmark raised their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

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.