Reinhart Partners LLC. Has $6.51 Million Holdings in Live Nation Entertainment, Inc. $LYV

Reinhart Partners LLC. lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 25.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 45,657 shares of the company’s stock after selling 15,584 shares during the quarter. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $6,506,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.8% during the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 10.3% during the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Capital World Investors lifted its holdings in shares of Live Nation Entertainment by 4.8% during the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after purchasing an additional 20,165 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Live Nation Entertainment by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the sale, the director directly owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,798 shares of company stock valued at $26,088,615 over the last three months. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Trading Down 1.6%

NYSE:LYV opened at $167.72 on Wednesday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a 50-day moving average of $159.97 and a 200-day moving average of $150.84. The company has a market cap of $39.51 billion, a PE ratio of -94.76 and a beta of 1.12. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) earnings per share. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LYV shares. UBS Group lifted their price target on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Zacks Research upgraded shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, May 8th. Wells Fargo & Company dropped their target price on shares of Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Sanford C. Bernstein boosted their target price on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Citizens Jmp initiated coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They issued a “market outperform” rating and a $190.00 target price on the stock. Twenty analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $187.75.

About Live Nation Entertainment

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.