Cibc World Market Inc. Has $5.34 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Cibc World Market Inc. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 75.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,669 shares of the company’s stock after selling 99,778 shares during the period. Cibc World Market Inc.’s holdings in Live Nation Entertainment were worth $5,338,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock worth $1,589,196,000 after acquiring an additional 1,763,511 shares during the last quarter. Profund Advisors LLC lifted its position in shares of Live Nation Entertainment by 51.1% during the third quarter. Profund Advisors LLC now owns 11,141 shares of the company’s stock worth $1,820,000 after purchasing an additional 3,767 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $1,606,000. WT Wealth Management bought a new position in Live Nation Entertainment in the 3rd quarter worth approximately $1,753,000. Finally, Seven Grand Managers LLC acquired a new position in Live Nation Entertainment during the 2nd quarter worth $22,692,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the subject of several research reports. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. UBS Group initiated coverage on Live Nation Entertainment in a research report on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Rothschild & Co Redburn reduced their target price on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $172.45.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $158.39 on Friday. The firm’s 50 day simple moving average is $144.25 and its 200 day simple moving average is $149.94. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 114.78, a P/E/G ratio of 10.48 and a beta of 1.18. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92.

About Live Nation Entertainment

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.