Rhumbline Advisers Sells 4,765 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Rhumbline Advisers cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,194 shares of the company’s stock after selling 4,765 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Live Nation Entertainment worth $37,451,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Live Nation Entertainment by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after acquiring an additional 107,844 shares during the last quarter. Empowered Funds LLC lifted its stake in Live Nation Entertainment by 392.4% in the third quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock worth $1,898,000 after purchasing an additional 13,815 shares during the last quarter. Natixis Advisors LLC boosted its position in Live Nation Entertainment by 12.0% during the third quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after buying an additional 7,136 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Live Nation Entertainment during the third quarter valued at about $441,000. Finally, Friedenthal Financial bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $754,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $154.73 on Wednesday. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $155.05. The firm’s 50-day moving average is $138.26 and its 200 day moving average is $121.43. The stock has a market cap of $35.95 billion, a price-to-earnings ratio of 164.61, a PEG ratio of 1.73 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYV. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Guggenheim raised their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. TD Cowen boosted their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI upped their price objective on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.47.

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.