New York Life Investment Management LLC Sells 124 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

New York Life Investment Management LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.6% during the 4th quarter, Holdings Channel reports. The fund owned 20,333 shares of the company’s stock after selling 124 shares during the period. New York Life Investment Management LLC’s holdings in Live Nation Entertainment were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in Live Nation Entertainment by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock valued at $2,324,000 after purchasing an additional 117 shares during the period. Hohimer Wealth Management LLC increased its holdings in Live Nation Entertainment by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after acquiring an additional 123 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock worth $1,100,000 after purchasing an additional 130 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC boosted its holdings in shares of Live Nation Entertainment by 1.1% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company’s stock valued at $1,094,000 after purchasing an additional 146 shares during the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of Live Nation Entertainment by 5.9% in the fourth quarter. Raymond James Trust N.A. now owns 2,628 shares of the company’s stock worth $246,000 after purchasing an additional 147 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LYV. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. TD Cowen restated a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $117.00.

Live Nation Entertainment Trading Up 1.3 %

NYSE:LYV opened at $95.89 on Tuesday. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50-day simple moving average of $98.60 and a 200-day simple moving average of $91.79. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $107.24. The firm has a market cap of $22.19 billion, a P/E ratio of 91.32, a P/E/G ratio of 1.92 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.25) EPS. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Company 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.