Kornitzer Capital Management Inc. KS Sells 38,837 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Kornitzer Capital Management Inc. KS cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 31.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,000 shares of the company’s stock after selling 38,837 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Live Nation Entertainment were worth $11,137,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the third quarter valued at $31,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment during the 4th quarter valued at approximately $42,000. Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $44,000. Independence Bank of Kentucky purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $45,000. Finally, Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment during the third quarter valued at approximately $41,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $153.80 on Tuesday. The company has a 50 day moving average of $137.85 and a two-hundred day moving average of $120.99. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $153.94. The company has a market cap of $35.73 billion, a price-to-earnings ratio of 163.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of recent analyst reports. Guggenheim boosted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Evercore ISI lifted their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. Citigroup upped their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.60.

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.