As Live Nation Entertainment In (LYV) Share Price Rose, Covey Capital Advisors Cut by $1.32 Million Its Stake; Mgm Resorts International (MGM) Holding Increased by Frontfour Capital Group Llc

February 18, 2018 - By Peter Erickson

Covey Capital Advisors Llc decreased its stake in Live Nation Entertainment In (LYV) by 29.13% based on its latest 2017Q3 regulatory filing with the SEC. Covey Capital Advisors Llc sold 30,650 shares as the company’s stock rose 14.05% with the market. The institutional investor held 74,555 shares of the consumer services company at the end of 2017Q3, valued at $3.25 million, down from 105,205 at the end of the previous reported quarter. Covey Capital Advisors Llc who had been investing in Live Nation Entertainment In for a number of months, seems to be less bullish one the $9.71 billion market cap company. The stock increased 0.04% or $0.02 during the last trading session, reaching $46.95. About 931,684 shares traded. Live Nation Entertainment, Inc. (NYSE:LYV) has risen 52.18% since February 18, 2017 and is uptrending. It has outperformed by 35.48% the S&P500.

Frontfour Capital Group Llc increased its stake in Mgm Resorts International (MGM) by 6.16% based on its latest 2017Q3 regulatory filing with the SEC. Frontfour Capital Group Llc bought 19,782 shares as the company’s stock rose 17.48% with the market. The hedge fund held 340,902 shares of the hotels and resorts company at the end of 2017Q3, valued at $11.11M, up from 321,120 at the end of the previous reported quarter. Frontfour Capital Group Llc who had been investing in Mgm Resorts International for a number of months, seems to be bullish on the $19.52B market cap company. The stock decreased 1.51% or $0.53 during the last trading session, reaching $34.47. About 8.30 million shares traded or 6.37% up from the average. MGM Resorts International (NYSE:MGM) has risen 45.28% since February 18, 2017 and is uptrending. It has outperformed by 28.58% the S&P500.

Among 16 analysts covering MGM Resorts (NYSE:MGM), 12 have Buy rating, 0 Sell and 4 Hold. Therefore 75% are positive. MGM Resorts had 57 analyst reports since August 5, 2015 according to SRatingsIntel. The company was maintained on Tuesday, January 17 by Telsey Advisory Group. The rating was maintained by Telsey Advisory Group with “Outperform” on Friday, December 9. As per Wednesday, October 5, the company rating was maintained by Nomura. On Thursday, January 25 the stock rating was maintained by Nomura with “Buy”. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, June 9. Deutsche Bank maintained it with “Buy” rating and $29 target in Friday, June 17 report. The rating was maintained by Susquehanna with “Hold” on Thursday, February 15. The company was upgraded on Monday, November 2 by UBS. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, August 5. Zacks downgraded the shares of MGM in report on Wednesday, August 5 to “Hold” rating.

Since September 6, 2017, it had 0 insider buys, and 7 sales for $14.89 million activity. SANDERS COREY IAN had sold 16,446 shares worth $553,133 on Wednesday, September 6. Shares for $104,779 were sold by Mckinney-James Rose on Wednesday, September 6. 294,150 shares were sold by MURREN JAMES, worth $10.02M on Thursday, September 7. On Friday, September 8 McManus John sold $177,701 worth of MGM Resorts International (NYSE:MGM) or 5,273 shares. SELWOOD ROBERT sold $1.37M worth of stock or 40,325 shares. 30,318 shares were sold by D’ARRIGO DANIEL, worth $1.03 million on Thursday, September 7.

Investors sentiment increased to 1.53 in Q3 2017. Its up 0.52, from 1.01 in 2017Q2. It improved, as 43 investors sold MGM shares while 113 reduced holdings. 94 funds opened positions while 145 raised stakes. 458.66 million shares or 7.73% more from 425.76 million shares in 2017Q2 were reported. Japan-based Norinchukin Bankshares The has invested 0.02% in MGM Resorts International (NYSE:MGM). Zeke Cap Advsrs Ltd Liability Corporation has invested 0.04% of its portfolio in MGM Resorts International (NYSE:MGM). Tuttle Tactical Mngmt Ltd Limited Liability Company stated it has 0.7% of its portfolio in MGM Resorts International (NYSE:MGM). Credit Agricole S A, a France-based fund reported 94,790 shares. Bridgecreek Investment Mngmt Lc has invested 0.06% in MGM Resorts International (NYSE:MGM). Fmr Ltd Com invested 0.03% of its portfolio in MGM Resorts International (NYSE:MGM). Blue Ridge Cap Ltd Limited Liability Company has invested 0.98% in MGM Resorts International (NYSE:MGM). 1,100 were reported by Cranbrook Wealth Limited Company. Axa stated it has 0.04% of its portfolio in MGM Resorts International (NYSE:MGM). Apg Asset Nv reported 595,706 shares. Price T Rowe Associates Md, Maryland-based fund reported 23.21 million shares. 58,000 were reported by Bp Public Ltd Com. Penn Capital Mngmt Incorporated reported 0.06% stake. Scotia holds 0.03% or 61,053 shares in its portfolio. Kbc Group Nv holds 458,993 shares.

Frontfour Capital Group Llc, which manages about $447.90M and $545.17M US Long portfolio, decreased its stake in Mueller Wtr Prods Inc (NYSE:MWA) by 59,891 shares to 560,846 shares, valued at $7.18M in 2017Q3, according to the filing. It also reduced its holding in Mdc Partners Inc (NASDAQ:MDCA) by 61,561 shares in the quarter, leaving it with 815,540 shares, and cut its stake in Spdr S&P 500 Etf Tr (Put) (SPY).

Among 14 analysts covering Live Nation (NYSE:LYV), 10 have Buy rating, 0 Sell and 4 Hold. Therefore 71% are positive. Live Nation had 23 analyst reports since September 18, 2015 according to SRatingsIntel. The stock of Live Nation Entertainment, Inc. (NYSE:LYV) earned “Overweight” rating by Stephens on Tuesday, November 8. The rating was maintained by Macquarie Research with “Buy” on Wednesday, August 9. The firm earned “Neutral” rating on Monday, June 19 by Northcoast. The firm earned “Buy” rating on Monday, October 16 by Jefferies. Citigroup initiated the stock with “Buy” rating in Thursday, October 8 report. JP Morgan initiated the shares of LYV in report on Thursday, August 18 with “Overweight” rating. Guggenheim maintained Live Nation Entertainment, Inc. (NYSE:LYV) on Wednesday, January 10 with “Buy” rating. The stock has “Buy” rating by Jefferies on Monday, September 11. The rating was downgraded by Citigroup on Friday, December 22 to “Hold”. The rating was downgraded by Evercore on Monday, November 20 to “In-Line”.

Investors sentiment increased to 1.54 in Q3 2017. Its up 0.11, from 1.43 in 2017Q2. It improved, as 23 investors sold LYV shares while 89 reduced holdings. 65 funds opened positions while 107 raised stakes. 135.10 million shares or 4.62% more from 129.13 million shares in 2017Q2 were reported. Bnp Paribas Arbitrage reported 56,512 shares. Bluecrest Cap Mngmt holds 28,729 shares. Alpine Woods Capital Investors Ltd Liability reported 0.02% stake. Advisory Rech Inc has invested 0.02% in Live Nation Entertainment, Inc. (NYSE:LYV). Daiwa Secs Grp Inc reported 0.01% in Live Nation Entertainment, Inc. (NYSE:LYV). Croft invested 0.21% in Live Nation Entertainment, Inc. (NYSE:LYV). 6,898 are held by Cibc Asset Mngmt Inc. Teacher Retirement Systems Of Texas reported 11,023 shares. Oregon Employees Retirement Fund stated it has 0.03% of its portfolio in Live Nation Entertainment, Inc. (NYSE:LYV). Fiera Capital Corp owns 795,670 shares. Chicago Equity Ltd Company stated it has 0.27% in Live Nation Entertainment, Inc. (NYSE:LYV). Goldman Sachs Gp accumulated 0.04% or 3.77M shares. Scotia Capital Inc has invested 0.01% in Live Nation Entertainment, Inc. (NYSE:LYV). Cantab Prtn Llp owns 34,451 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mngmt reported 21,500 shares.

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