Live Nation Entertainment, Inc. (NYSE:LYV) Stake Reduced by Xponance Inc.

Xponance Inc. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 22,090 shares of the company’s stock after selling 2,724 shares during the quarter. Xponance Inc.’s holdings in Live Nation Entertainment were worth $2,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Creative Financial Designs Inc. ADV raised its position in Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $33,000. Cary Street Partners Investment Advisory LLC increased its stake in Live Nation Entertainment by 9,800.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after purchasing an additional 490 shares in the last quarter. Tobam purchased a new position in Live Nation Entertainment in the 4th quarter worth about $59,000. Finally, Headlands Technologies LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $88,000. 74.52% of the stock is currently owned by institutional investors.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.85% of the stock is currently owned by company insiders.

Live Nation Entertainment Trading Down 1.7 %

Shares of NYSE LYV opened at $88.45 on Tuesday. The stock has a market cap of $20.41 billion, a price-to-earnings ratio of 66.50 and a beta of 1.30. The business has a 50 day simple moving average of $98.99 and a 200 day simple moving average of $91.52. Live Nation Entertainment, Inc. has a 52 week low of $64.96 and a 52 week high of $107.24. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Roth Capital raised Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Oppenheimer lifted their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Finally, Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the company from $92.00 to $114.00 in a research note on Friday, January 12th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.70.

About Live Nation Entertainment

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.