Zweig DiMenna Associates LLC Sells 10,100 Shares of Live Nation Entertainment, Inc. $LYV

Zweig DiMenna Associates LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 24.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 30,800 shares of the company’s stock after selling 10,100 shares during the period. Zweig DiMenna Associates LLC’s holdings in Live Nation Entertainment were worth $5,033,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in LYV. Clearstead Trust LLC raised its holdings in Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Live Nation Entertainment during the third quarter valued at approximately $34,000. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at $37,000. Finally, Root Financial Partners LLC acquired a new stake in Live Nation Entertainment during the third quarter worth $37,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 2.3%

LYV stock opened at $158.39 on Tuesday. The business has a fifty day moving average price of $144.65 and a 200 day moving average price of $150.00. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 114.78, a P/E/G ratio of 10.48 and a beta of 1.18.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Moffett Nathanson dropped their price target on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Susquehanna lifted their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a report on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Monday, December 29th. Finally, Roth Mkm set a $174.00 price target on Live Nation Entertainment in a research note on Thursday. Seventeen research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.45.

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.