Horizon Kinetics Asset Management LLC Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Horizon Kinetics Asset Management LLC trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 329,735 shares of the company’s stock after selling 26,574 shares during the quarter. Live Nation Entertainment comprises 0.5% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 21st biggest position. Horizon Kinetics Asset Management LLC’s holdings in Live Nation Entertainment were worth $42,701,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Amundi raised its holdings in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after purchasing an additional 39,302 shares during the period. Wealthfront Advisers LLC raised its holdings in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after buying an additional 33,980 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $226,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after buying an additional 107,844 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Live Nation Entertainment by 392.4% during the 3rd quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after buying an additional 13,815 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last three months. 2.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

LYV has been the topic of several analyst reports. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Finally, JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Price Performance

Shares of LYV opened at $119.25 on Monday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The firm has a market cap of $27.83 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a 50 day moving average of $139.52 and a 200-day moving average of $126.83.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.