Nicholas Investment Partners LP raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 30.1% during the fourth quarter, Holdings Channel reports. The fund owned 164,913 shares of the company’s stock after buying an additional 38,196 shares during the period. Nicholas Investment Partners LP owned approximately 0.08% of Live Nation Entertainment worth $4,386,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of LYV. Creative Planning increased its position in Live Nation Entertainment by 6.1% in the third quarter. Creative Planning now owns 4,334 shares of the company’s stock worth $119,000 after buying an additional 249 shares during the period. Riverhead Capital Management LLC increased its position in Live Nation Entertainment by 179.4% in the third quarter. Riverhead Capital Management LLC now owns 5,900 shares of the company’s stock worth $162,000 after buying an additional 3,788 shares during the period. PICTET BANK & TRUST Ltd purchased a new position in Live Nation Entertainment during the third quarter worth about $203,000. Neuberger Berman Group LLC purchased a new position in Live Nation Entertainment during the second quarter worth about $204,000. Finally, World Asset Management Inc purchased a new position in Live Nation Entertainment during the third quarter worth about $237,000. 63.33% of the stock is owned by institutional investors and hedge funds.
Shares of Live Nation Entertainment, Inc. (NYSE:LYV) remained flat at $29.03 during trading on Wednesday. 158,474 shares of the stock traded hands. The stock’s market capitalization is $5.87 billion. Live Nation Entertainment, Inc. has a 12-month low of $19.33 and a 12-month high of $29.22. The company has a 50-day moving average price of $27.91 and a 200 day moving average price of $27.37.
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Several equities analysts recently weighed in on LYV shares. Zacks Investment Research downgraded Live Nation Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Albert Fried & Company reiterated a “hold” rating on shares of Live Nation Entertainment in a research report on Wednesday, January 11th. Jefferies Group LLC lifted their target price on Live Nation Entertainment from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 29th. Finally, Stephens upgraded Live Nation Entertainment from an “equal weight” rating to an “overweight” rating and set a $33.00 target price on the stock in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $31.88.
In other news, Director Mark S. Shapiro sold 22,642 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $28.08, for a total transaction of $635,787.36. Following the transaction, the director now directly owns 36,929 shares in the company, valued at $1,036,966.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Ted Enloe III sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $27.78, for a total transaction of $277,800.00. Following the transaction, the director now owns 35,398 shares in the company, valued at $983,356.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,012,642 shares of company stock worth $28,394,887. Company insiders own 4.16% of the company’s stock.
Live Nation Entertainment Company Profile
Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.
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