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

Horizon Kinetics Asset Management LLC reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 329,735 shares of the company’s stock after selling 26,574 shares during the period. Live Nation Entertainment makes up 0.5% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Horizon Kinetics Asset Management LLC owned about 0.14% of Live Nation Entertainment worth $42,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after acquiring an additional 75 shares during the period. SOA Wealth Advisors LLC. lifted its stake in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the period. Western Pacific Wealth Management LP lifted its stake in shares of Live Nation Entertainment by 10.4% in the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after acquiring an additional 82 shares during the period. UMB Bank n.a. lifted its stake in shares of Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after acquiring an additional 93 shares during the period. Finally, Gilbert & Cook Inc. lifted its stake in shares of Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after acquiring an additional 93 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 over the last ninety days. 2.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LYV shares. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Roth Mkm raised their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of 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 investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $119.25 on Monday. The company has a market cap of $27.83 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month 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 company has a 50-day simple moving average of $139.52 and a 200-day simple moving average of $126.83.

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