Metis Global Partners LLC Reduces Holdings in Live Nation Entertainment, Inc. $LYV

Metis Global Partners LLC reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,667 shares of the company’s stock after selling 675 shares during the period. Metis Global Partners LLC’s holdings in Live Nation Entertainment were worth $857,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of LYV. GW&K Investment Management LLC raised its holdings in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after buying an additional 283 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Live Nation Entertainment in the first quarter worth $42,000. TD Private Client Wealth LLC purchased a new stake in Live Nation Entertainment during the 2nd quarter worth about $62,000. Brooklyn Investment Group raised its holdings in Live Nation Entertainment by 95.3% in the first quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock valued at $81,000 after acquiring an additional 301 shares in the last quarter. Finally, MAI Capital Management raised its position in shares of Live Nation Entertainment by 60.1% during the 1st quarter. MAI Capital Management now owns 663 shares of the company’s stock worth $87,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research reports. Susquehanna boosted their price objective on Live Nation Entertainment from $174.00 to $175.00 and gave the company a “positive” rating in a research note on Monday, November 3rd. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $144.00 to $170.00 in a report on Tuesday, September 16th. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Citigroup dropped their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.84.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $141.98 on Wednesday. The firm has a fifty day moving average of $157.32 and a 200-day moving average of $151.39. Live Nation Entertainment, Inc. has a 52-week low of $112.88 and a 52-week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $33.33 billion, a P/E ratio of 61.46, a PEG ratio of 12.85 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 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.