Bayesian Capital Management LP Sells 2,500 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Bayesian Capital Management LP lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,300 shares of the company’s stock after selling 2,500 shares during the period. Bayesian Capital Management LP’s holdings in Live Nation Entertainment were worth $1,830,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of LYV. SG Americas Securities LLC lifted its position in shares of Live Nation Entertainment by 112.3% in the 4th quarter. SG Americas Securities LLC now owns 10,850 shares of the company’s stock worth $1,016,000 after purchasing an additional 99,340 shares during the period. Raymond James & Associates lifted its position in Live Nation Entertainment by 4.4% during the fourth quarter. Raymond James & Associates now owns 86,784 shares of the company’s stock valued at $8,123,000 after acquiring an additional 3,676 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Live Nation Entertainment during the fourth quarter valued at approximately $243,000. Caprock Group LLC lifted its position in Live Nation Entertainment by 66.0% during the fourth quarter. Caprock Group LLC now owns 4,425 shares of the company’s stock valued at $414,000 after acquiring an additional 1,759 shares during the last quarter. Finally, Baskin Financial Services Inc. lifted its position in Live Nation Entertainment by 1.3% during the fourth quarter. Baskin Financial Services Inc. now owns 299,507 shares of the company’s stock valued at $28,034,000 after acquiring an additional 3,848 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

LYV traded down $0.92 on Tuesday, reaching $94.55. 1,986,342 shares of the company’s stock were exchanged, compared to its average volume of 2,200,011. The stock has a market cap of $21.72 billion, a PE ratio of 90.00, a P/E/G ratio of 2.09 and a beta of 1.34. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24. The stock’s fifty day moving average price is $93.82 and its 200-day moving average price is $94.93. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.28 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, May 29th. Rosenblatt Securities raised their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Friday, May 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, TD Cowen reiterated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.58.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.