Equitable Trust Co. Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Equitable Trust Co. lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 64.0% during the 4th quarter, Holdings Channel reports. The fund owned 26,085 shares of the company’s stock after selling 46,418 shares during the quarter. Equitable Trust Co.’s holdings in Live Nation Entertainment were worth $3,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Live Nation Entertainment by 12.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after buying an additional 107,844 shares during the period. Empowered Funds LLC raised its holdings in Live Nation Entertainment by 392.4% in the 3rd quarter. Empowered Funds LLC now owns 17,336 shares of the company’s stock valued at $1,898,000 after buying an additional 13,815 shares during the period. Natixis Advisors LLC raised its holdings in Live Nation Entertainment by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after buying an additional 7,136 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Live Nation Entertainment in the 3rd quarter valued at about $441,000. Finally, Friedenthal Financial acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $754,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $148.38 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $152.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $34.48 billion, a price-to-earnings ratio of 157.85, a P/E/G ratio of 1.73 and a beta of 1.38. The stock’s fifty day simple moving average is $136.12 and its 200-day simple moving average is $118.60.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LYV shares. Roth Mkm lifted their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Macquarie boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

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.