Live Nation Entertainment, Inc. $LYV Position Cut by Rhumbline Advisers

Rhumbline Advisers lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,289 shares of the company’s stock after selling 5,976 shares during the period. Rhumbline Advisers owned approximately 0.13% of Live Nation Entertainment worth $50,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Clearstead Trust LLC lifted its holdings in Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 136 shares during the period. Atwood & Palmer Inc. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $34,000. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment in the third quarter valued at approximately $37,000. Finally, Root Financial Partners LLC acquired a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $37,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the topic of a number of research reports. Susquehanna boosted their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research note on Monday, November 3rd. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a research report on Friday, January 2nd. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Evercore boosted their target price on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Finally, Roth Mkm set a $174.00 target price on shares of Live Nation Entertainment in a report on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $172.45.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $158.39 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The firm’s 50 day simple moving average is $144.25 and its 200-day simple moving average is $149.94. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $37.18 billion, a P/E ratio of 114.78, a price-to-earnings-growth ratio of 10.26 and a beta of 1.18.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.