Artisan Partners Limited Partnership Lowers Position in Live Nation Entertainment, Inc. $LYV

Artisan Partners Limited Partnership lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,480,300 shares of the company’s stock after selling 47,848 shares during the quarter. Artisan Partners Limited Partnership owned about 1.06% of Live Nation Entertainment worth $375,220,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC grew its stake in Live Nation Entertainment by 2.5% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after buying an additional 69 shares in the last quarter. Gilbert & Cook Inc. grew its position in Live Nation Entertainment by 1.4% in the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock worth $723,000 after acquiring an additional 75 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in Live Nation Entertainment by 1.8% in the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after acquiring an additional 97 shares during the last quarter. Trust Asset Management LLC raised its position in Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock valued at $233,000 after purchasing an additional 98 shares in the last quarter. Finally, Callan Family Office LLC lifted its stake in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock worth $732,000 after purchasing an additional 98 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LYV shares. Rothschild Redb cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Susquehanna boosted their price objective on shares of Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a report on Monday, November 3rd. Citigroup cut their price objective on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Morgan Stanley decreased their target price on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Rothschild & Co Redburn lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.68.

Live Nation Entertainment Trading Down 1.1%

NYSE:LYV opened at $129.91 on Thursday. The firm has a market capitalization of $30.49 billion, a P/E ratio of 56.24, a P/E/G ratio of 12.85 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a fifty day moving average of $153.49 and a 200 day moving average of $151.34. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.