Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,193 shares of the company’s stock after selling 5,895 shares during the period. HighTower Advisors LLC owned 0.07% of Live Nation Entertainment worth $22,354,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Trust Asset Management LLC lifted its stake in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock worth $233,000 after acquiring an additional 98 shares during the period. Motley Fool Asset Management LLC lifted its stake in Live Nation Entertainment by 13.2% during the first quarter. Motley Fool Asset Management LLC now owns 3,843 shares of the company’s stock valued at $502,000 after purchasing an additional 447 shares during the last quarter. Nuveen LLC acquired a new stake in Live Nation Entertainment during the first quarter valued at approximately $201,501,000. Aigen Investment Management LP acquired a new stake in Live Nation Entertainment during the first quarter valued at approximately $459,000. Finally, MSA Advisors LLC lifted its stake in Live Nation Entertainment by 24.2% during the first quarter. MSA Advisors LLC now owns 191,205 shares of the company’s stock valued at $24,968,000 after purchasing an additional 37,230 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYV has been the subject of several recent research reports. Oppenheimer increased their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a “positive” rating in a research note on Tuesday, June 10th. Benchmark increased their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Roth Mkm cut their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an “outperform” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.41.

Live Nation Entertainment Stock Down 0.6%

Live Nation Entertainment stock opened at $160.59 on Friday. The firm has a market cap of $37.65 billion, a PE ratio of 69.52, a P/E/G ratio of 9.75 and a beta of 1.46. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50 day moving average price is $149.21 and its two-hundred day moving average price is $140.65. Live Nation Entertainment, Inc. has a twelve month low of $92.57 and a twelve month high of $162.95.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 EPS. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

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.