Josh Arnold Investment Consultant LLC Has $1.66 Million Holdings in Live Nation Entertainment, Inc. $LYV

Josh Arnold Investment Consultant LLC lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 23.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,625 shares of the company’s stock after selling 3,550 shares during the quarter. Live Nation Entertainment comprises about 0.9% of Josh Arnold Investment Consultant LLC’s portfolio, making the stock its 8th biggest position. Josh Arnold Investment Consultant LLC’s holdings in Live Nation Entertainment were worth $1,657,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYV. Norges Bank purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $285,924,000. Sachem Head Capital Management LP purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $173,380,000. Jericho Capital Asset Management L.P. boosted its holdings in Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after purchasing an additional 1,099,350 shares during the period. First Trust Advisors LP grew its position in shares of Live Nation Entertainment by 653.7% during the 4th quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock valued at $1,528,700,000 after purchasing an additional 1,001,905 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LYV shares. Wells Fargo & Company lowered their price objective on Live Nation Entertainment from $203.00 to $199.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Finally, Susquehanna upped their price objective on shares of Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Live Nation Entertainment Trading Down 0.4%

NYSE LYV opened at $170.78 on Friday. The stock’s 50-day simple moving average is $163.80 and its two-hundred day simple moving average is $154.10. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $176.00. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of -96.48 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) earnings per share. Research analysts forecast that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.