Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,274 shares of the company’s stock after selling 572 shares during the quarter. Raymond James Trust N.A.’s holdings in Live Nation Entertainment were worth $249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LYV. Charles Schwab Investment Management Inc. raised its stake in shares of Live Nation Entertainment by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after buying an additional 107,844 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Live Nation Entertainment by 37.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after acquiring an additional 385,143 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Live Nation Entertainment by 23.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 21,022 shares of the company’s stock valued at $2,302,000 after acquiring an additional 3,976 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at about $441,000. Finally, Caprock Group LLC grew its stake in shares of Live Nation Entertainment by 5.7% in the 3rd quarter. Caprock Group LLC now owns 4,693 shares of the company’s stock worth $514,000 after purchasing an additional 253 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on 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 sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The trade was a 4.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Trading Up 0.6 %

Live Nation Entertainment stock opened at $139.73 on Thursday. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18. 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 stock has a market cap of $32.47 billion, a P/E ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33. The company’s fifty day simple moving average is $118.24 and its 200-day simple moving average is $102.87.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the subject of a number of research reports. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Citigroup boosted their target price on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Benchmark upped their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $141.53.

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.