Comerica Bank Lowers Position in Live Nation Entertainment, Inc. $LYV

Comerica Bank reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 76.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,732 shares of the company’s stock after selling 63,872 shares during the quarter. Comerica Bank’s holdings in Live Nation Entertainment were worth $2,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LYV. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the 4th quarter valued at $26,000. Ameriflex Group Inc. raised its position in Live Nation Entertainment by 102.4% in 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 during the last quarter. Root Financial Partners LLC purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at $37,000. Blue Trust Inc. raised its position in Live Nation Entertainment by 62.6% in the 4th quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after buying an additional 107 shares during the last quarter. Finally, KERR FINANCIAL PLANNING Corp purchased a new stake in Live Nation Entertainment in the 3rd quarter valued at $41,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $190.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Wolfe Research raised their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Weiss Ratings raised Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Finally, Guggenheim raised their target price on Live Nation Entertainment from $180.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, April 6th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $187.10.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $157.90 on Tuesday. The business’s 50-day moving average price is $157.30 and its two-hundred day moving average price is $148.51. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The stock has a market cap of $37.12 billion, a P/E ratio of -657.91 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.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.12 billion. During the same period in the previous year, the business earned $0.58 EPS. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.39 EPS for the current fiscal year.

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.