State of Wyoming decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 49.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,617 shares of the company’s stock after selling 3,598 shares during the quarter. State of Wyoming’s holdings in Live Nation Entertainment were worth $612,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of LYV. Burkett Financial Services LLC acquired a new position in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Kilter Group LLC acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in Live Nation Entertainment in the second quarter valued at approximately $27,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Live Nation Entertainment in the second quarter valued at approximately $32,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Live Nation Entertainment Stock Performance
Shares of Live Nation Entertainment stock opened at $177.78 on Monday. The company’s 50 day moving average price is $173.25 and its two-hundred day moving average price is $166.55. The firm has a market capitalization of $41.89 billion, a P/E ratio of -157.33 and a beta of 1.15. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Citizens Jmp upped their target price on Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company upped their price objective on Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Guggenheim raised their price objective on Live Nation Entertainment from $197.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Weiss Ratings cut Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.95.
Read Our Latest Stock Analysis on Live Nation Entertainment
Insider Buying and Selling at Live Nation Entertainment
In related news, CAO Brian Capo sold 2,900 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares in the company, valued at $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.89% of the stock is currently owned by company insiders.
About Live Nation Entertainment
Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.
The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.
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