Raymond James Financial Services Advisors Inc. Cuts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Raymond James Financial Services Advisors Inc. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.7% in the fourth quarter, HoldingsChannel reports. The fund owned 10,003 shares of the company’s stock after selling 1,450 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Live Nation Entertainment were worth $936,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LYV. Providence Capital Advisors LLC raised its position in shares of Live Nation Entertainment by 6,674.2% in the first quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock worth $30,000 after acquiring an additional 2,069 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $31,000. Creative Financial Designs Inc. ADV raised its position in shares of Live Nation Entertainment by 148.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Live Nation Entertainment by 9,800.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.85% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on LYV shares. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Finally, Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.90.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $99.77 on Tuesday. The stock has a market cap of $23.03 billion, a P/E ratio of 75.02 and a beta of 1.30. The company has a fifty day simple moving average of $98.82 and a 200-day simple moving average of $91.29. Live Nation Entertainment, Inc. has a 12-month low of $64.96 and a 12-month high of $107.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

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.