UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Live Nation Entertainment, Inc. $LYV

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 660,271 shares of the company’s stock after selling 39,497 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.28% of Live Nation Entertainment worth $120,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. New Mexico Educational Retirement Board raised its position in shares of Live Nation Entertainment by 11.3% in the second quarter. New Mexico Educational Retirement Board now owns 7,900 shares of the company’s stock worth $1,447,000 after buying an additional 800 shares in the last quarter. Mufg Securities Americas Inc. increased its stake in Live Nation Entertainment by 9.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 4,766 shares of the company’s stock worth $873,000 after acquiring an additional 397 shares during the last quarter. Nissay Asset Management Corp Japan raised its holdings in shares of Live Nation Entertainment by 0.3% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company’s stock valued at $3,858,000 after acquiring an additional 66 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Live Nation Entertainment by 36.6% during the 2nd quarter. Hsbc Holdings PLC now owns 264,391 shares of the company’s stock valued at $48,496,000 after acquiring an additional 70,811 shares during the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of Live Nation Entertainment during the second quarter worth about $319,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 1.3%

LYV stock opened at $177.49 on Wednesday. The company has a market capitalization of $41.82 billion, a PE ratio of -157.07 and a beta of 1.11. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The company’s 50 day moving average price is $181.61 and its two-hundred day moving average price is $168.31.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The company had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. As a group, analysts predict that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LYV. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $205.00 target price on shares of Live Nation Entertainment in a research report on Friday, July 31st. Benchmark raised their price objective on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Roth Capital set a $208.00 target price on Live Nation Entertainment in a research note on Friday, July 31st. Finally, BTIG Research restated a “buy” rating and set a $215.00 price target on shares of Live Nation Entertainment in a research report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $197.19.

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.