Steph & Co. Sells 310 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Steph & Co. lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,137 shares of the company’s stock after selling 310 shares during the quarter. Steph & Co.’s holdings in Live Nation Entertainment were worth $148,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Canada Pension Plan Investment Board raised its stake in Live Nation Entertainment by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company’s stock worth $1,120,177,000 after buying an additional 44,703 shares in the last quarter. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock worth $607,871,000 after acquiring an additional 3,168,210 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Live Nation Entertainment by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company’s stock worth $500,107,000 after acquiring an additional 108,293 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its position in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company’s stock valued at $415,447,000 after purchasing an additional 777,105 shares in the last quarter. Finally, Cantillon Capital Management LLC grew its stake in Live Nation Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after purchasing an additional 15,891 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $147.87 on Wednesday. The business’s 50 day moving average price is $139.28 and its 200-day moving average price is $136.29. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $34.27 billion, a PE ratio of 50.47, a P/E/G ratio of 5.97 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company earned $0.60 earnings per share. Live Nation Entertainment’s quarterly revenue was down 11.0% on a year-over-year basis. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LYV. Guggenheim restated a “buy” rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 target price for the company. Wolfe Research upped their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the stock a “positive” rating in a research report on Tuesday, June 10th. Finally, Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.24.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the transaction, the executive vice president now owns 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment 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.