Live Nation Entertainment, Inc. $LYV Shares Sold by Independent Franchise Partners LLP

Independent Franchise Partners LLP lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,540,614 shares of the company’s stock after selling 99,692 shares during the quarter. Live Nation Entertainment comprises approximately 6.0% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 3rd biggest holding. Independent Franchise Partners LLP’s holdings in Live Nation Entertainment were worth $905,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vident Advisory LLC grew its holdings in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares in the last quarter. Private Trust Co. NA raised its stake in Live Nation Entertainment by 24.4% during the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock valued at $68,000 after acquiring an additional 82 shares in the last quarter. Ameriflex Group Inc. boosted its position in Live Nation Entertainment by 102.4% during the 3rd 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. GW&K Investment Management LLC grew its stake in shares of Live Nation Entertainment by 22.2% in the third quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock worth $76,000 after purchasing an additional 85 shares in the last quarter. Finally, Alteri Wealth LLC increased its holdings in shares of Live Nation Entertainment by 5.1% during the third quarter. Alteri Wealth LLC now owns 1,841 shares of the company’s stock valued at $301,000 after purchasing an additional 89 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on LYV. Rothschild & Co Redburn upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $166.00 to $193.00 in a research note on Friday, February 27th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Wolfe Research boosted their price target on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, February 25th. They set an “overweight” rating and a $204.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.40.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $154.14 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The business’s 50-day moving average price is $151.35 and its 200 day moving average price is $150.42. Live Nation Entertainment, Inc. has a 52-week low of $113.20 and a 52-week high of $175.25. The firm has a market cap of $36.19 billion, a P/E ratio of -642.25 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.01% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Company Profile

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.