Alliancebernstein L.P. Lowers Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Alliancebernstein L.P. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 76.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 241,907 shares of the company’s stock after selling 786,226 shares during the period. Alliancebernstein L.P. owned about 0.10% of Live Nation Entertainment worth $31,327,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LYV. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment in the 4th quarter worth about $40,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $44,000. Independence Bank of Kentucky acquired a new stake in Live Nation Entertainment in the 4th quarter valued at $45,000. Finally, Morse Asset Management Inc purchased a new stake in Live Nation Entertainment in the 3rd quarter worth $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $121.00 on Monday. The firm’s 50-day moving average is $137.16 and its two-hundred day moving average is $129.83. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $28.24 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LYV shares. JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Roth Mkm boosted their price target on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Rosenblatt Securities restated a “buy” rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Company 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.