Crossmark Global Holdings Inc. Reduces Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Crossmark Global Holdings Inc. trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,027 shares of the company’s stock after selling 381 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Live Nation Entertainment were worth $988,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Live Nation Entertainment during the third quarter worth about $41,000. Cromwell Holdings LLC increased its position 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 worth $47,000 after purchasing an additional 88 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Finally, Family Firm Inc. purchased a new position in Live Nation Entertainment during the 2nd quarter worth approximately $42,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. This represents a 28.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 175,500 shares of company stock worth $17,097,016. 2.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Roth Mkm increased their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Guggenheim increased their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Macquarie raised their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Finally, StockNews.com downgraded Live Nation Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.43.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $129.21 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $130.76. The company has a 50-day simple moving average of $112.06 and a 200-day simple moving average of $100.35. The company has a market capitalization of $29.76 billion, a PE ratio of 137.46, a P/E/G ratio of 3.15 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 2.11% and a return on equity of 77.62%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.18 earnings per share for the current fiscal year.

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.