Cerity Partners LLC Sells 13,806 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cerity Partners LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,946 shares of the company’s stock after selling 13,806 shares during the period. Cerity Partners LLC’s holdings in Live Nation Entertainment were worth $3,388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LYV. Measured Risk Portfolios Inc. bought a new stake in Live Nation Entertainment in the fourth quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment during the fourth quarter valued at $40,000. Finally, Private Trust Co. NA increased its position in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company’s stock worth $53,000 after buying an additional 196 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LYV shares. Benchmark reissued a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a “positive” rating in a research note on Tuesday, June 10th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price target on the stock. Rosenblatt Securities cut 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 report on Friday, May 2nd. Finally, Guggenheim reissued a “buy” rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $165.24.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction dated Friday, May 16th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.01% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Stock Down 0.1%

Shares of NYSE LYV opened at $150.60 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The business has a 50-day moving average of $145.12 and a 200-day moving average of $138.03. The firm has a market capitalization of $34.90 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 5.84 and a beta of 1.45. Live Nation Entertainment, Inc. has a 12 month low of $87.33 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. Live Nation Entertainment’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.