Simmons Bank Sells 100 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Simmons Bank reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,084 shares of the company’s stock after selling 100 shares during the quarter. Simmons Bank’s holdings in Live Nation Entertainment were worth $270,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the third quarter valued at about $31,000. World Investment Advisors LLC acquired a new stake in Live Nation Entertainment during the 3rd quarter worth about $38,000. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at approximately $41,000. Morse Asset Management Inc acquired a new position in Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.8 %

Shares of LYV stock opened at $140.97 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The firm has a market cap of $32.76 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a 50-day moving average of $140.05 and a two-hundred day moving average of $123.81. 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 (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. On average, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Macquarie raised their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased 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. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Insiders Place Their Bets

In related 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 transaction of $9,811,334.40. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.72% of the company’s stock.

About Live Nation Entertainment

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.