Reinhart Partners LLC. Sells 5,808 Shares of Live Nation Entertainment, Inc. $LYV

Reinhart Partners LLC. decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,392 shares of the company’s stock after selling 5,808 shares during the period. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $9,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. lifted its stake in shares of Live Nation Entertainment by 1.4% in the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock valued at $723,000 after purchasing an additional 75 shares during the period. Central Pacific Bank Trust Division increased its stake in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after purchasing an additional 97 shares in the last quarter. Trust Asset Management LLC boosted its position in shares of Live Nation Entertainment by 5.8% during the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after purchasing an additional 98 shares in the last quarter. Callan Family Office LLC grew its stake in shares of Live Nation Entertainment by 1.8% in the 1st quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after buying an additional 98 shares during the period. Finally, HM Payson & Co. increased its position in Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company’s stock valued at $150,000 after buying an additional 100 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Guggenheim reissued a “buy” rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Wolfe Research boosted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Finally, Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 target price on the stock. Eighteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $170.68.

Live Nation Entertainment Stock Down 1.0%

Live Nation Entertainment stock opened at $170.65 on Wednesday. The firm has a market capitalization of $40.01 billion, a price-to-earnings ratio of 73.87, a P/E/G ratio of 11.63 and a beta of 1.42. The firm has a 50 day simple moving average of $158.05 and a 200 day simple moving average of $143.42. Live Nation Entertainment, Inc. has a 1-year low of $101.36 and a 1-year high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. Live Nation Entertainment’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.