2Xideas AG Decreases Stock Position in Live Nation Entertainment, Inc. $LYV

2Xideas AG cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,728 shares of the company’s stock after selling 7,699 shares during the quarter. Live Nation Entertainment comprises about 1.1% of 2Xideas AG’s holdings, making the stock its 29th largest position. 2Xideas AG’s holdings in Live Nation Entertainment were worth $5,184,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC boosted its position in Live Nation Entertainment by 469.0% during the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares during the period. Ameriflex Group Inc. lifted its stake in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after buying an additional 84 shares in the last quarter. Atwood & Palmer Inc. purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter worth approximately $34,000. Finally, Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 3.9%

NYSE:LYV opened at $154.14 on Friday. The firm has a market capitalization of $36.19 billion, a P/E ratio of -642.25 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The company has a fifty day moving average of $151.35 and a 200 day moving average of $150.42. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LYV shares. Guggenheim restated a “buy” rating and set a $180.00 target price on shares of Live Nation Entertainment in a research report on Monday. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research note on Monday. UBS Group increased their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wolfe Research lifted their target price on Live Nation Entertainment from $175.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.01% of the stock is currently owned by corporate insiders.

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.