Symmetry Investments LP Sells 8,151 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Symmetry Investments LP reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 26.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,700 shares of the company's stock after selling 8,151 shares during the quarter. Symmetry Investments LP's holdings in Live Nation Entertainment were worth $2,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Independent Franchise Partners LLP lifted its holdings in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Groupama Asset Managment bought a new position in Live Nation Entertainment in the 4th quarter worth approximately $259,000,000. Norges Bank purchased a new position in Live Nation Entertainment in the 4th quarter valued at approximately $255,955,000. Capital World Investors raised its holdings in Live Nation Entertainment by 54.2% during the 4th quarter. Capital World Investors now owns 1,707,284 shares of the company's stock valued at $221,093,000 after acquiring an additional 599,784 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Live Nation Entertainment by 34.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company's stock worth $248,592,000 after acquiring an additional 496,202 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 4.3 %

Shares of LYV stock opened at $128.80 on Wednesday. The stock has a market capitalization of $30.06 billion, a PE ratio of 47.35, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. 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 business has a 50-day moving average of $131.52 and a 200 day moving average of $131.32.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on LYV. Rosenblatt Securities reissued a "buy" rating and set a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Bank of America increased their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Benchmark reaffirmed a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted 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 research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. Insiders own 2.72% of the company's stock.

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.

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