Cwm LLC Lowers Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cwm LLC trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 8.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,185 shares of the company’s stock after selling 204 shares during the period. Cwm LLC’s holdings in Live Nation Entertainment were worth $239,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. grew its holdings in Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares in the last quarter. Family Firm Inc. bought a new stake in Live Nation Entertainment in the 2nd quarter worth approximately $42,000. American National Bank & Trust bought a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $50,000. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Live Nation Entertainment by 1,738.3% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock worth $103,000 after acquiring an additional 1,043 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment 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 completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was 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 in the company, valued at $360,956,212.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Trading Up 0.6 %

Shares of NYSE:LYV opened at $115.68 on Wednesday. The business has a 50-day moving average price of $103.14 and a 200-day moving average price of $97.22. The stock has a market cap of $26.58 billion, a price-to-earnings ratio of 110.17, a PEG ratio of 2.65 and a beta of 1.35. Live Nation Entertainment, Inc. has a 52-week low of $76.48 and a 52-week high of $116.57. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The business had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Macquarie boosted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.77.

Live Nation Entertainment Company 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.