Pacer Advisors Inc. Sells 972,954 Shares of Live Nation Entertainment, Inc. $LYV

Pacer Advisors Inc. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 99.2% in the first quarter, Holdings Channel.com reports. The fund owned 7,898 shares of the company’s stock after selling 972,954 shares during the period. Pacer Advisors Inc.’s holdings in Live Nation Entertainment were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC increased its holdings in shares of Live Nation Entertainment by 91.9% in the 1st quarter. Empowered Funds LLC now owns 7,018 shares of the company’s stock worth $1,070,000 after purchasing an additional 3,361 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Live Nation Entertainment by 1.5% during the first quarter. Pine Valley Investments Ltd Liability Co now owns 16,162 shares of the company’s stock valued at $2,465,000 after purchasing an additional 232 shares in the last quarter. DV Trading LLC boosted its position in shares of Live Nation Entertainment by 22,757.1% during the first quarter. DV Trading LLC now owns 1,600 shares of the company’s stock valued at $244,000 after buying an additional 1,593 shares during the last quarter. Parallel Advisors LLC increased its holdings in Live Nation Entertainment by 25.3% in the 1st quarter. Parallel Advisors LLC now owns 8,724 shares of the company’s stock worth $1,331,000 after buying an additional 1,761 shares in the last quarter. Finally, Optiver Holding B.V. raised its position in Live Nation Entertainment by 128.2% in the 1st quarter. Optiver Holding B.V. now owns 785 shares of the company’s stock worth $120,000 after buying an additional 441 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.1%

Shares of LYV stock opened at $180.52 on Monday. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a fifty day simple moving average of $176.56 and a two-hundred day simple moving average of $163.68. The firm has a market capitalization of $42.54 billion, a PE ratio of -159.76 and a beta of 1.12. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $188.00.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LYV shares. Zacks Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Wells Fargo & Company increased their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 31st. Benchmark boosted their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Susquehanna increased their price target on Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $197.19.

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.