Gateway Investment Advisers LLC Sells 3,217 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Gateway Investment Advisers LLC decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,016 shares of the company’s stock after selling 3,217 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Live Nation Entertainment were worth $10,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LYV. Acadian Asset Management LLC bought a new stake in Live Nation Entertainment during the second quarter worth about $419,000. Brown Brothers Harriman & Co. grew its stake in shares of Live Nation Entertainment by 1,738.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock worth $103,000 after buying an additional 1,043 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after buying an additional 476,981 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Live Nation Entertainment by 6.1% during the second quarter. Dimensional Fund Advisors LP now owns 894,019 shares of the company’s stock valued at $83,780,000 after buying an additional 51,397 shares during the last quarter. Finally, Meiji Yasuda Life Insurance Co boosted its holdings in Live Nation Entertainment by 3.2% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock worth $360,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYV. Citigroup lifted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.40.

Live Nation Entertainment Trading Up 0.1 %

NYSE:LYV opened at $133.52 on Friday. The firm has a market capitalization of $31.02 billion, a price-to-earnings ratio of 142.04, a price-to-earnings-growth ratio of 1.50 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. The business has a fifty day moving average price of $133.08 and a 200-day moving average price of $112.89. Live Nation Entertainment, Inc. has a one year low of $86.67 and a one year high of $141.18.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.02 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.