Cabot Wealth Management Inc. Has $5.12 Million Stake in Live Nation Entertainment, Inc. $LYV

Cabot Wealth Management Inc. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,870 shares of the company’s stock after selling 229 shares during the period. Cabot Wealth Management Inc.’s holdings in Live Nation Entertainment were worth $5,124,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new stake in shares of Live Nation Entertainment in the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment during the first quarter valued at $33,000. GW&K Investment Management LLC boosted its holdings in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after acquiring an additional 283 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Live Nation Entertainment in the first quarter worth about $42,000. Finally, Private Trust Co. NA raised its holdings in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company’s stock worth $53,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $152.98 on Friday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $35.87 billion, a PE ratio of 66.23, a price-to-earnings-growth ratio of 12.17 and a beta of 1.40. The stock has a 50-day moving average of $161.87 and a 200-day moving average of $149.70. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LYV. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a report on Saturday. Oppenheimer boosted their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Finally, Rothschild Redb cut Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.89.

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.