Gilbert & Cook Inc. Reduces Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Gilbert & Cook Inc. lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,370 shares of the company’s stock after selling 257 shares during the quarter. Gilbert & Cook Inc.’s holdings in Live Nation Entertainment were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $41,000. Cromwell Holdings LLC boosted its stake in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares during the last quarter. UMB Bank n.a. raised its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Finally, Family Firm Inc. bought a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on LYV. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI raised their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $129.00 on Friday. The company’s 50-day moving average price is $112.78 and its 200-day moving average price is $100.70. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $130.83. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $29.97 billion, a PE ratio of 137.23, a price-to-earnings-growth ratio of 3.49 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the firm posted $1.78 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,500 shares of company stock valued at $17,097,016. Company insiders own 2.72% of the company’s stock.

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.