Delta Global Management LP Reduces Stake in Live Nation Entertainment, Inc. $LYV

Delta Global Management LP decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 60.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,163 shares of the company’s stock after selling 9,476 shares during the quarter. Delta Global Management LP’s holdings in Live Nation Entertainment were worth $1,007,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its position in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth $33,000. Heartwood Wealth Advisors LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment in the third quarter valued at $37,000. Finally, Root Financial Partners LLC purchased a new position in shares of Live Nation Entertainment during the third quarter worth about $37,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LYV. Wells Fargo & Company began coverage on Live Nation Entertainment in a report on Wednesday, February 25th. They issued an “overweight” rating and a $204.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Bank of America increased their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a report on Friday, February 20th. Morgan Stanley restated an “overweight” rating and set a $185.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Live Nation Entertainment from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $184.40.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 2.0%

Shares of Live Nation Entertainment stock opened at $157.05 on Tuesday. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of -654.39 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52-week low of $113.20 and a 52-week high of $175.25. The company’s 50-day simple moving average is $151.59 and its 200-day simple moving average is $150.13. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business earned $0.58 EPS. Live Nation Entertainment’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research 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 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.