Cambridge Investment Research Advisors Inc. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 4.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,765 shares of the company’s stock after selling 116 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Live Nation Entertainment were worth $361,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in shares of Live Nation Entertainment by 0.5% during the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock worth $1,120,177,000 after buying an additional 44,703 shares during the period. Independent Franchise Partners LLP lifted its stake in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after buying an additional 3,168,210 shares during the period. Geode Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after buying an additional 108,293 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in shares of Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock worth $415,447,000 after buying an additional 777,105 shares during the period. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock worth $353,946,000 after buying an additional 445,704 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Rosenblatt Securities lowered their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 target price for the company. Roth Mkm decreased their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Guggenheim restated a “buy” rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a “positive” rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $165.24.
Live Nation Entertainment Trading Down 0.4%
Shares of Live Nation Entertainment stock opened at $143.91 on Friday. The firm has a 50-day simple moving average of $143.75 and a two-hundred day simple moving average of $137.44. The company has a market cap of $33.35 billion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 5.60 and a beta of 1.45. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $157.75. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The company’s revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.
Insider Buying and Selling at Live Nation Entertainment
In other news, EVP John Hopmans sold 34,808 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president owned 189,456 shares of the company’s stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.01% of the company’s stock.
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.
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