Reinhart Partners LLC. Sells 3,514 Shares of Live Nation Entertainment, Inc. $LYV

Reinhart Partners LLC. lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 16,492 shares of the company’s stock after selling 3,514 shares during the quarter. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $2,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new position in Live Nation Entertainment in the 2nd quarter valued at approximately $26,000. Kilter Group LLC bought a new position in Live Nation Entertainment in the 2nd quarter worth about $27,000. Meeder Asset Management Inc. bought a new position in shares of Live Nation Entertainment in the second quarter worth approximately $27,000. Transamerica Financial Advisors LLC purchased a new stake in Live Nation Entertainment in the second quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in Live Nation Entertainment during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LYV. Oppenheimer set a $100.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, July 28th. Sanford C. Bernstein lifted their price target on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Citizens Jmp upped their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 22nd. Benchmark raised their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Susquehanna boosted their target price on Live Nation Entertainment from $186.00 to $187.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.19.

Live Nation Entertainment Stock Down 0.6%

NYSE LYV opened at $170.29 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $189.24. The stock has a market capitalization of $40.13 billion, a PE ratio of -150.70 and a beta of 1.17. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50-day moving average is $176.23 and its 200 day moving average is $170.68.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $0.41 EPS. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Live Nation Entertainment

In related news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes concerts and other live events, operates entertainment venues, and provides ticketing services. Its activities span the live event ecosystem, from artist and event promotion to ticket sales, venue management, sponsorship, and advertising.

The company’s business includes Live Nation Concerts, which produces and promotes tours, festivals, and other events; Ticketmaster, a ticketing platform serving venues, event organizers, and fans; and a portfolio of owned, operated, or managed venues.