Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 36.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,000 shares of the company’s stock after selling 5,069 shares during the quarter. AQR Capital Management LLC’s holdings in Live Nation Entertainment were worth $842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Live Nation Entertainment by 19.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after acquiring an additional 29,669 shares during the last quarter. Nordea Investment Management AB boosted its stake in Live Nation Entertainment by 15.8% during the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock worth $146,567,000 after buying an additional 187,839 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at about $1,454,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the second quarter valued at about $748,000. Finally, Guidance Capital Inc. acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at about $910,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LYV. Benchmark reiterated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Bank of America started coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.85.

Insiders Place Their Bets

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 35,000 shares of Live Nation Entertainment stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares in the company, valued at $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Up 1.9 %

Shares of Live Nation Entertainment stock opened at $114.81 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $115.27. The company has a 50 day moving average of $100.20 and a 200 day moving average of $96.84. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The company has a market capitalization of $26.44 billion, a P/E ratio of 108.31, a P/E/G ratio of 2.65 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

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.