Allianz Asset Management GmbH Decreases Stock Holdings in Live Nation Entertainment, Inc. $LYV

Allianz Asset Management GmbH lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,059 shares of the company’s stock after selling 5,368 shares during the quarter. Allianz Asset Management GmbH’s holdings in Live Nation Entertainment were worth $6,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 22.1% in the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the last quarter. WT Wealth Management purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $1,753,000. Seven Grand Managers LLC acquired a new stake in Live Nation Entertainment during the 2nd quarter worth approximately $22,692,000. Rakuten Investment Management Inc. purchased a new position in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $1,606,000. Finally, EFG Asset Management North America Corp. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $1,191,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on LYV. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research report on Friday, January 2nd. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, November 4th. Morgan Stanley cut their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Rothschild & Co Redburn lowered their price objective on Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $172.55.

Live Nation Entertainment Price Performance

LYV stock opened at $147.74 on Tuesday. The company has a market cap of $34.68 billion, a price-to-earnings ratio of 107.06, a PEG ratio of 9.30 and a beta of 1.18. 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 50 day moving average of $142.84 and a 200-day moving average of $149.89. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25.

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.