Triangle Securities Wealth Management Decreases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Triangle Securities Wealth Management trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,528 shares of the company’s stock after selling 287 shares during the period. Triangle Securities Wealth Management’s holdings in Live Nation Entertainment were worth $1,881,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. raised its holdings in shares of Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Live Nation Entertainment by 1.2% in the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after buying an additional 321,832 shares during the last quarter. D1 Capital Partners L.P. boosted its position in shares of Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. Finally, Vulcan Value Partners LLC increased its holdings in shares of Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after acquiring an additional 855,197 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on LYV. Roth Mkm boosted their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Macquarie upped their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Bank of America lifted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $135.71 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $141.18. The firm has a market capitalization of $31.53 billion, a price-to-earnings ratio of 144.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.38. The business’s 50 day simple moving average is $133.51 and its 200-day simple moving average is $113.44. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the company earned $1.78 EPS. The firm’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

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.