Independent Advisor Alliance Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Independent Advisor Alliance lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 7.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,650 shares of the company’s stock after selling 227 shares during the period. Independent Advisor Alliance’s holdings in Live Nation Entertainment were worth $290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the period. Private Advisor Group LLC increased its position in Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares during the period. Vontobel Holding Ltd. raised its holdings in Live Nation Entertainment by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Live Nation Entertainment by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after purchasing an additional 105 shares in the last quarter. Finally, Mystic Asset Management Inc. increased its position in shares of Live Nation Entertainment by 2.1% during the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after buying an additional 110 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $139.73 on Friday. The company has a market cap of $32.47 billion, a price-to-earnings ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33. The business’s fifty day simple moving average is $118.98 and its two-hundred day simple moving average is $103.13. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the company earned $1.78 EPS. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup raised their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Rosenblatt Securities reissued a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Insider Activity

In other Live Nation Entertainment 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 sale, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 17.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 over the last three months. 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.