Reinhart Partners LLC. Trims Stock Position in Live Nation Entertainment, Inc. $LYV

Reinhart Partners LLC. cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 53.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,006 shares of the company’s stock after selling 22,683 shares during the quarter. Reinhart Partners LLC.’s holdings in Live Nation Entertainment were worth $3,663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vident Advisory LLC increased its stake in Live Nation Entertainment by 2.1% during the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after purchasing an additional 75 shares in the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after buying an additional 75 shares during the period. Prairie Wealth Advisors Inc. grew its holdings in shares of Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after buying an additional 80 shares during the last quarter. Sumitomo Life Insurance Co. increased its position in shares of Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. Finally, Root Financial Partners LLC raised its stake in Live Nation Entertainment by 37.4% in the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after acquiring an additional 85 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.7%

Live Nation Entertainment stock opened at $180.52 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 8.25. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $188.00. The stock’s 50 day simple moving average is $176.56 and its two-hundred day simple moving average is $163.55. The firm has a market cap of $42.54 billion, a PE ratio of -159.76 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.39. The firm had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the topic of several research analyst reports. Benchmark boosted their price target on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Sanford C. Bernstein lifted their target price on Live Nation Entertainment from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Citigroup increased their price target on shares of Live Nation Entertainment from $181.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.19.

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.