RBF Capital LLC Has $4.58 Million Holdings in Live Nation Entertainment, Inc. $LYV

RBF Capital LLC cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 25.0% during the first quarter, Holdings Channel reports. The fund owned 30,000 shares of the company’s stock after selling 10,000 shares during the period. RBF Capital LLC’s holdings in Live Nation Entertainment were worth $4,575,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of LYV. Norges Bank acquired a new position in Live Nation Entertainment in the fourth quarter worth $285,924,000. Sachem Head Capital Management LP acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $173,380,000. Jericho Capital Asset Management L.P. raised its holdings in shares of Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after buying an additional 1,099,350 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Live Nation Entertainment by 653.7% in the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock valued at $169,767,000 after buying an additional 1,033,289 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in 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 worth $1,528,700,000 after buying an additional 1,001,905 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of several research reports. Citizens Jmp raised their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 22nd. Citigroup reiterated a “market outperform” rating on shares of Live Nation Entertainment in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Zacks Research lowered shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Wolfe Research upped their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Twenty research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.67.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. This represents a 23.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $184.48 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $188.00. The stock has a market capitalization of $43.45 billion, a P/E ratio of -104.22 and a beta of 1.11. The business has a 50-day moving average price of $174.49 and a two-hundred day moving average price of $161.94.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period last year, the business posted ($0.32) EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts predict that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current year.

About Live Nation Entertainment

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.