Covestor Ltd Sells 234 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Covestor Ltd cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 16.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,162 shares of the company’s stock after selling 234 shares during the quarter. Covestor Ltd’s holdings in Live Nation Entertainment were worth $127,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LYV. Janney Montgomery Scott LLC increased its stake in Live Nation Entertainment by 442.1% during the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock worth $1,331,000 after acquiring an additional 10,262 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Live Nation Entertainment by 27.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock valued at $495,000 after purchasing an additional 1,002 shares during the last quarter. Empowered Funds LLC purchased a new stake in Live Nation Entertainment during the 1st quarter valued at $281,000. Oppenheimer & Co. Inc. bought a new stake in Live Nation Entertainment in the first quarter worth $212,000. Finally, Headlands Technologies LLC purchased a new position in Live Nation Entertainment during the first quarter worth $138,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Macquarie lifted their price target on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $122.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $124.73.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $123.85 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $81.38 and a 52 week high of $127.64. The stock’s fifty day moving average is $110.04 and its two-hundred day moving average is $99.68. The company has a market capitalization of $28.53 billion, a P/E ratio of 116.84, a P/E/G ratio of 3.03 and a beta of 1.33. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment 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.