Jefferies Financial Group Inc. Reduces Position in Live Nation Entertainment, Inc. $LYV

Jefferies Financial Group Inc. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 99.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,466 shares of the company’s stock after selling 1,558,604 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Live Nation Entertainment were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the fourth quarter worth $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter worth $26,000. Ameriflex Group Inc. lifted its stake in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after acquiring an additional 84 shares during the period. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth $30,000. Finally, Blue Trust Inc. lifted its stake in Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. This trade represents a 23.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 157,798 shares of company stock worth $26,088,615. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

LYV opened at $168.34 on Friday. The stock has a fifty day simple moving average of $159.65 and a two-hundred day simple moving average of $150.59. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market cap of $39.65 billion, a price-to-earnings ratio of -95.11 and a beta of 1.11. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYVGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) EPS. Research analysts predict that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. Rothschild & Co Redburn raised their price target on Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. UBS Group raised their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Evercore reaffirmed an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research note on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $187.75.

Check Out Our Latest Stock Report on Live Nation Entertainment

Live Nation Entertainment Company Profile

(Free Report)

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.

See Also

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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