Gilbert & Cook Inc. Sells 257 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Gilbert & Cook Inc. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,370 shares of the company’s stock after selling 257 shares during the quarter. Gilbert & Cook Inc.’s holdings in Live Nation Entertainment were worth $588,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Frank Rimerman Advisors LLC purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $748,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Live Nation Entertainment by 22.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock worth $10,873,000 after buying an additional 18,931 shares during the last quarter. Select Equity Group L.P. boosted its stake in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock worth $1,213,053,000 after buying an additional 1,415,173 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in shares of Live Nation Entertainment in the 2nd quarter worth approximately $3,985,000. Finally, Czech National Bank boosted its stake in shares of Live Nation Entertainment by 17.5% in the 3rd quarter. Czech National Bank now owns 31,904 shares of the company’s stock worth $3,493,000 after buying an additional 4,761 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares in the company, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,500 shares of company stock valued at $17,097,016. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

LYV stock opened at $129.00 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $130.83. The company has a market cap of $29.97 billion, a P/E ratio of 137.23, a PEG ratio of 3.49 and a beta of 1.33. The firm has a 50-day moving average of $112.78 and a 200 day moving average of $100.70. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LYV. Guggenheim boosted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Roth Mkm upped their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.57.

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.