Truist Financial Corp Lowers Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Truist Financial Corp trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 99.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,912 shares of the company’s stock after selling 2,598,479 shares during the quarter. Truist Financial Corp’s holdings in Live Nation Entertainment were worth $3,485,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the third quarter valued at approximately $31,000. World Investment Advisors LLC acquired a new position in shares of Live Nation Entertainment during the third quarter worth $38,000. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the third quarter worth $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment during the third quarter worth $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth $42,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYV has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday. Rosenblatt Securities reissued a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a report on Thursday, February 20th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Live Nation Entertainment Stock Up 3.5 %

LYV stock opened at $154.59 on Tuesday. 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, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The firm has a fifty day moving average price of $139.57 and a two-hundred day moving average price of $123.19. The firm has a market cap of $35.92 billion, a price-to-earnings ratio of 56.84, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.