Live Nation Entertainment, Inc. $LYV Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC trimmed its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 24.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,800 shares of the company’s stock after selling 10,100 shares during the period. Zweig DiMenna Associates LLC’s holdings in Live Nation Entertainment were worth $5,033,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LYV. Principal Financial Group Inc. raised its position in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after buying an additional 1,763,511 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $1,606,000. Profund Advisors LLC boosted its position in shares of Live Nation Entertainment by 51.1% in the third quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock worth $1,820,000 after buying an additional 3,767 shares during the period. WT Wealth Management acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $1,753,000. Finally, Seven Grand Managers LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $22,692,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

NYSE LYV opened at $158.39 on Tuesday. The stock has a 50-day simple moving average of $144.65 and a 200 day simple moving average of $150.00. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The stock has a market capitalization of $37.18 billion, a PE ratio of 114.78, a P/E/G ratio of 10.48 and a beta of 1.18. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Monday, December 29th. Jefferies Financial Group cut shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Citigroup dropped their price target on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Morgan Stanley reduced their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Susquehanna increased their target price on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $172.45.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.