Profund Advisors LLC Sells 3,562 Shares of Live Nation Entertainment, Inc. $LYV

Profund Advisors LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 32.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,374 shares of the company’s stock after selling 3,562 shares during the period. Profund Advisors LLC’s holdings in Live Nation Entertainment were worth $1,116,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYV. Stratos Wealth Partners LTD. bought a new stake in Live Nation Entertainment during the first quarter worth about $272,000. New York State Common Retirement Fund lifted its holdings in shares of Live Nation Entertainment by 1.5% during the first quarter. New York State Common Retirement Fund now owns 100,830 shares of the company’s stock valued at $13,166,000 after purchasing an additional 1,513 shares during the last quarter. CWM LLC boosted its position in shares of Live Nation Entertainment by 13.1% in the 1st quarter. CWM LLC now owns 2,371 shares of the company’s stock worth $310,000 after purchasing an additional 275 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $4,293,000. Finally, Signaturefd LLC increased its position in Live Nation Entertainment by 14.5% during the 1st quarter. Signaturefd LLC now owns 1,071 shares of the company’s stock valued at $140,000 after buying an additional 136 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LYV shares. Moffett Nathanson began coverage on Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 target price on the stock. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $144.00 to $170.00 in a research report on Tuesday, September 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Live Nation Entertainment from $180.00 to $172.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.84.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $141.98 on Wednesday. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $33.33 billion, a price-to-earnings ratio of 61.46, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. The business has a 50-day simple moving average of $157.32 and a two-hundred day simple moving average of $151.39. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 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 company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.66 earnings per share. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment Company 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.