CI Investments Inc. Reduces Holdings in Live Nation Entertainment, Inc. $LYV

CI Investments Inc. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 911,825 shares of the company’s stock after selling 115,334 shares during the quarter. CI Investments Inc.’s holdings in Live Nation Entertainment were worth $139,062,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Leonteq Securities AG purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in shares of Live Nation Entertainment during the 4th quarter worth approximately $30,000. DV Equities LLC acquired a new position in Live Nation Entertainment in the fourth quarter valued at approximately $31,000. Finally, Blue Trust Inc. grew its position in Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after acquiring an additional 107 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares of the company’s stock, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several recent analyst reports. Roth Capital restated a “buy” rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 15th. Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Zacks Research lowered shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Susquehanna cut shares of Live Nation Entertainment from a “positive” rating to a “neutral” rating and lifted their price objective for the company from $181.00 to $186.00 in a report on Tuesday. Finally, Wall Street Zen upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Nineteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.75.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $177.77 on Wednesday. The company has a market capitalization of $41.87 billion, a PE ratio of -100.43 and a beta of 1.11. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $188.00. The company has a fifty day moving average of $173.01 and a two-hundred day moving average of $160.49. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm earned ($0.32) earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. As a group, analysts expect that Live Nation Entertainment, Inc. will post 0.96 earnings per share for the current year.

About Live Nation Entertainment

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.