Atria Investments Inc Sells 1,667 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Atria Investments Inc lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,762 shares of the company’s stock after selling 1,667 shares during the quarter. Atria Investments Inc’s holdings in Live Nation Entertainment were worth $740,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Live Nation Entertainment by 0.6% in the first quarter. Vanguard Group Inc. now owns 18,068,765 shares of the company’s stock worth $1,911,133,000 after buying an additional 110,097 shares in the last quarter. Select Equity Group L.P. raised its position in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 1.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after purchasing an additional 155,920 shares during the period. Principal Financial Group Inc. boosted its position in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after purchasing an additional 87,032 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its stake in Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 2.8 %

Shares of LYV stock opened at $132.60 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.92 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12-month low of $81.38 and a 12-month high of $132.74. The stock has a market capitalization of $30.81 billion, a P/E ratio of 141.06, a P/E/G ratio of 3.49 and a beta of 1.33. The firm’s 50 day moving average is $113.54 and its 200 day moving average is $101.09.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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 in the previous year, the company posted $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. Research analysts expect that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on LYV shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen raised their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Benchmark lifted their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Roth Mkm increased their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $138.57.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares of the company’s stock, valued at $5,134,865.82. The trade was a 9.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last quarter. 2.72% of the stock is currently owned by insiders.

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.