Blair William & Co. IL Sells 17,589 Shares of Live Nation Entertainment, Inc. $LYV

Blair William & Co. IL decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 680,443 shares of the company’s stock after selling 17,589 shares during the period. Blair William & Co. IL’s holdings in Live Nation Entertainment were worth $96,963,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LYV. Leonteq Securities AG bought a new position in Live Nation Entertainment during the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $26,000. Ameriflex Group Inc. raised its position in shares of Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the period. Elyxium Wealth LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $30,000. Finally, Blue Trust Inc. grew its position in shares of 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 purchasing an additional 107 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity

In related news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Trading Down 1.0%

NYSE LYV opened at $174.14 on Wednesday. Live Nation Entertainment, Inc. has a 12 month low of $125.34 and a 12 month high of $176.00. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a 50 day moving average of $163.32 and a 200-day moving average of $153.55. The company has a market cap of $41.02 billion, a PE ratio of -98.39 and a beta of 1.12.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Zacks Research raised Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. Susquehanna upped their price target on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Finally, Wolfe Research increased their target price on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

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.