Blair William & Co. IL Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Blair William & Co. IL reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 740,429 shares of the company’s stock after selling 65,686 shares during the period. Blair William & Co. IL owned about 0.32% of Live Nation Entertainment worth $95,886,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $31,000. World Investment Advisors LLC purchased a new position in Live Nation Entertainment in the third quarter valued at about $38,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the fourth quarter worth about $40,000. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the third quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $42,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment 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 completion of the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $126.92 on Thursday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market cap of $29.62 billion, a PE ratio of 46.66, a P/E/G ratio of 1.81 and a beta of 1.38. The stock has a 50 day simple moving average of $138.45 and a 200-day simple moving average of $128.18.

Live Nation Entertainment (NYSE:LYV) last released its quarterly 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. The company had revenue of $5.68 billion during 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%. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

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.