Federated Hermes Inc. Sells 180,672 Shares of Live Nation Entertainment, Inc. $LYV

Federated Hermes Inc. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 23.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 575,677 shares of the company’s stock after selling 180,672 shares during the period. Federated Hermes Inc. owned 0.25% of Live Nation Entertainment worth $94,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Seven Grand Managers LLC bought a new stake in Live Nation Entertainment during the second quarter worth about $22,692,000. WT Wealth Management purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $1,753,000. Signaturefd LLC boosted its position in shares of Live Nation Entertainment by 25.3% in the 2nd quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock worth $203,000 after purchasing an additional 271 shares in the last quarter. Osaic Holdings Inc. increased its position in Live Nation Entertainment by 44.0% during the 2nd quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock valued at $3,407,000 after buying an additional 7,322 shares in the last quarter. Finally, L2 Asset Management LLC raised its stake in Live Nation Entertainment by 224.9% during the second quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock valued at $3,109,000 after buying an additional 14,224 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $147.58 on Thursday. The firm has a market cap of $34.64 billion, a PE ratio of 106.94, a P/E/G ratio of 9.65 and a beta of 1.20. Live Nation Entertainment, Inc. has a 1-year low of $112.88 and a 1-year high of $175.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. The firm has a fifty day simple moving average of $140.70 and a two-hundred day simple moving average of $150.27.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 EPS. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LYV shares. Rothschild & Co Redburn reduced their price target on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Evercore ISI increased their price objective on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a research report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Jefferies Financial Group downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and reduced their price target for the company from $161.00 to $155.00 in a research report on Tuesday, January 13th. Finally, Susquehanna boosted their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. Seventeen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.55.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.