MCF Advisors LLC Cuts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

MCF Advisors LLC lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 714 shares of the company’s stock after selling 84 shares during the quarter. MCF Advisors LLC’s holdings in Live Nation Entertainment were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in LYV. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $38,000. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $41,000. Morse Asset Management Inc bought a new stake in Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at $44,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV opened at $138.60 on Thursday. The stock has a market capitalization of $32.20 billion, a price-to-earnings ratio of 147.44, a PEG ratio of 1.57 and a beta of 1.38. Live Nation Entertainment, Inc. has a fifty-two week low of $86.67 and a fifty-two week high of $141.18. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $134.17 and a 200 day moving average of $114.33.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. 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 previous year, the firm posted $1.78 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on LYV. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Bank of America upped their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Macquarie lifted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

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.