JAT Capital Mgmt LP Has $306,000 Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

JAT Capital Mgmt LP cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 98.8% in the third quarter, HoldingsChannel reports. The fund owned 2,796 shares of the company’s stock after selling 224,046 shares during the quarter. JAT Capital Mgmt LP’s holdings in Live Nation Entertainment were worth $306,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in LYV. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the third quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. increased its holdings in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares during the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment during the third quarter valued at approximately $41,000. Finally, Family Firm Inc. bought a new stake in Live Nation Entertainment in the second quarter worth approximately $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $138.29 on Friday. The business has a fifty day simple moving average of $119.69 and a 200 day simple moving average of $103.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a market capitalization of $32.13 billion, a price-to-earnings ratio of 147.12, a PEG ratio of 3.79 and a beta of 1.33. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $141.18.

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

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the transaction, the director now owns 53,949 shares of the company’s stock, valued at $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYV has been the subject of several analyst reports. Macquarie lifted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Roth Mkm increased their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Rosenblatt Securities restated a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, Guggenheim upped their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $141.53.

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.