Live Nation Entertainment, Inc. $LYV Position Trimmed by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 309,289 shares of the company’s stock after selling 5,976 shares during the period. Rhumbline Advisers’ holdings in Live Nation Entertainment were worth $50,538,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LYV. Clearstead Trust LLC grew 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 valued at $25,000 after purchasing an additional 136 shares in the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $34,000. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the third quarter worth $37,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter worth $37,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on LYV shares. UBS Group initiated coverage on Live Nation Entertainment in a research note on Tuesday, November 25th. They issued a “buy” rating and a $164.00 target price on the stock. 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. Guggenheim dropped their price objective on Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a report on Wednesday, January 14th. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Finally, Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $172.45.

Live Nation Entertainment Stock Up 2.3%

LYV opened at $158.39 on Friday. The firm has a market cap of $37.18 billion, a P/E ratio of 114.78, a price-to-earnings-growth ratio of 10.26 and a beta of 1.18. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50 day moving average price of $144.25 and a 200 day moving average price of $149.94. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25.

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.