Live Nation Entertainment, Inc. (LYV) Shares Reduced by Scout Investments Inc.

Live Nation Entertainment, Inc. (LYV) Shares Reduced by Scout Investments Inc.

Scout Investments Inc. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 69.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,265 shares of the company’s stock after selling 177,325 shares during the quarter. Scout Investments Inc.’s holdings in Live Nation Entertainment were worth $3,855,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Advisor Partners LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter worth about $215,000. MML Investors Services LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter worth about $244,000. Cornerstone Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter worth about $250,000. Tocqueville Asset Management L.P. purchased a new stake in Live Nation Entertainment during the 3rd quarter worth about $300,000. Finally, Global X Management Co LLC increased its position in Live Nation Entertainment by 28.0% during the 2nd quarter. Global X Management Co LLC now owns 6,972 shares of the company’s stock worth $339,000 after purchasing an additional 1,525 shares in the last quarter. Institutional investors and hedge funds own 68.63% of the company’s stock.

LYV opened at $53.47 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of -111.40 and a beta of 1.08. Live Nation Entertainment, Inc. has a 12 month low of $35.94 and a 12 month high of $58.26.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, November 1st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The business had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3.72 billion. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post -0.02 EPS for the current fiscal year.

LYV has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. ValuEngine upgraded Live Nation Entertainment from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 12th. Finally, Macquarie reiterated a “buy” rating and set a $60.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, November 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Live Nation Entertainment presently has a consensus rating of “Buy” and an average price target of $57.35.

In other Live Nation Entertainment news, CEO Michael Rapino sold 85,000 shares of Live Nation Entertainment stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $47.93, for a total value of $4,074,050.00. Following the completion of the sale, the chief executive officer now owns 797,030 shares in the company, valued at approximately $38,201,647.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 25,000 shares of Live Nation Entertainment stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $56.47, for a total value of $1,411,750.00. Following the completion of the sale, the executive vice president now owns 191,237 shares of the company’s stock, valued at approximately $10,799,153.39. The disclosure for this sale can be found here. Insiders sold a total of 280,000 shares of company stock valued at $14,148,150 in the last 90 days. 5.19% of the stock is owned by company insiders.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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