Live Nation Entertainment, Inc. $LYV Shares Sold by GAM Holding AG

GAM Holding AG lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,417 shares of the company’s stock after selling 922 shares during the period. GAM Holding AG’s holdings in Live Nation Entertainment were worth $1,122,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strs Ohio increased its stake in shares of Live Nation Entertainment by 7.7% in the second quarter. Strs Ohio now owns 37,110 shares of the company’s stock valued at $5,614,000 after purchasing an additional 2,647 shares during the period. Amalgamated Bank increased its position in Live Nation Entertainment by 4.7% in the 2nd quarter. Amalgamated Bank now owns 35,024 shares of the company’s stock valued at $5,298,000 after acquiring an additional 1,566 shares during the period. Retirement Systems of Alabama increased its position in Live Nation Entertainment by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 33,819 shares of the company’s stock valued at $5,116,000 after acquiring an additional 123 shares during the period. Assetmark Inc. increased its position in Live Nation Entertainment by 5.9% in the 2nd quarter. Assetmark Inc. now owns 208,759 shares of the company’s stock valued at $31,581,000 after acquiring an additional 11,563 shares during the period. Finally, Spire Wealth Management increased its position in Live Nation Entertainment by 5.6% in the 2nd quarter. Spire Wealth Management now owns 4,990 shares of the company’s stock valued at $755,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LYV shares. Citigroup lowered their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Oppenheimer raised their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Moffett Nathanson started coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Finally, Benchmark raised their price objective on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $149.70 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of 64.81, a PEG ratio of 12.85 and a beta of 1.40. The stock’s fifty day simple moving average is $160.60 and its 200 day simple moving average is $150.39. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 EPS. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 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.