Worldquant Millennium Advisors LLC Cuts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Worldquant Millennium Advisors LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 91.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,734 shares of the company's stock after selling 97,984 shares during the period. Worldquant Millennium Advisors LLC's holdings in Live Nation Entertainment were worth $1,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Quantinno Capital Management LP increased its holdings in Live Nation Entertainment by 4.5% in the 3rd quarter. Quantinno Capital Management LP now owns 28,397 shares of the company's stock valued at $3,109,000 after purchasing an additional 1,223 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in Live Nation Entertainment by 12.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 141,846 shares of the company's stock valued at $15,531,000 after purchasing an additional 15,544 shares during the last quarter. PointState Capital LP acquired a new position in shares of Live Nation Entertainment in the third quarter worth $102,762,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the third quarter worth $42,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Live Nation Entertainment in the third quarter worth $314,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Ratings Changes

LYV has been the subject of several research reports. Guggenheim boosted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Roth Mkm boosted their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Benchmark boosted their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Bank of America boosted their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, TD Cowen boosted their target price on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average target price of $142.13.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,159 shares of company stock valued at $15,912,903 over the last ninety days. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded down $2.73 on Monday, reaching $134.03. The company's stock had a trading volume of 2,371,561 shares, compared to its average volume of 2,205,912. The stock's 50-day moving average is $123.33 and its two-hundred day moving average is $105.11. Live Nation Entertainment, Inc. has a 52-week low of $85.08 and a 52-week high of $141.18. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $31.14 billion, a P/E ratio of 145.49, a PEG ratio of 3.71 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 earnings per share. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.04 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.