Northern Trust Corp Sells 53,534 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Northern Trust Corp cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,360,023 shares of the company’s stock after selling 53,534 shares during the quarter. Northern Trust Corp owned approximately 0.59% of Live Nation Entertainment worth $127,298,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Live Nation Entertainment by 14.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 154,640 shares of the company’s stock valued at $13,819,000 after acquiring an additional 20,003 shares during the period. Bank of Nova Scotia grew its stake in shares of Live Nation Entertainment by 6.9% during the 3rd quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock valued at $46,566,000 after acquiring an additional 36,298 shares during the period. Artisan Partners Limited Partnership boosted its stake in Live Nation Entertainment by 7.5% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock worth $205,144,000 after purchasing an additional 153,825 shares during the period. International Assets Investment Management LLC bought a new position in Live Nation Entertainment in the 4th quarter worth approximately $788,000. Finally, Bank of New Hampshire bought a new position in Live Nation Entertainment in the 4th quarter worth approximately $1,735,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $89.75 on Tuesday. The firm has a market cap of $20.62 billion, a P/E ratio of 85.48, a P/E/G ratio of 1.85 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. Live Nation Entertainment, Inc. has a 12 month low of $76.48 and a 12 month high of $107.24. The stock’s fifty day moving average price is $95.37 and its 200-day moving average price is $93.86.

Live Nation Entertainment (NYSE:LYVGet Free Report) last issued its quarterly earnings data 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 the consensus estimate of $3.26 billion. Live Nation Entertainment had a net margin of 2.22% and a return on equity of 90.67%. Live Nation Entertainment’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.25) EPS. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on LYV shares. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Rosenblatt Securities increased their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Northcoast Research downgraded Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Finally, Roth Mkm reiterated a “buy” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

Check Out Our Latest Stock Report on LYV

About Live Nation Entertainment

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

Receive News & Ratings for Live Nation Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Live Nation Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.