Victory Capital Management Inc. Sells 2,249 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Victory Capital Management Inc. cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,956 shares of the company’s stock after selling 2,249 shares during the quarter. Victory Capital Management Inc.’s holdings in Live Nation Entertainment were worth $14,887,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LYV. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $31,000. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $38,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at about $44,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 1.0 %

LYV opened at $122.84 on Thursday. The stock has a market cap of $28.67 billion, a PE ratio of 45.16, a PEG ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business has a 50 day moving average of $140.00 and a 200-day moving average of $126.32. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYV. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Benchmark restated a “buy” rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Guggenheim raised their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

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.