Baird Financial Group Inc. Sells 20,980 Shares of Live Nation Entertainment, Inc. $LYV

Baird Financial Group Inc. trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,614 shares of the company’s stock after selling 20,980 shares during the period. Baird Financial Group Inc.’s holdings in Live Nation Entertainment were worth $18,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its stake in Live Nation Entertainment by 3.3% during the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after purchasing an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after buying an additional 109 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after buying an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Live Nation Entertainment by 15.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after buying an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after buying an additional 1,711 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. UBS Group lifted their price target on shares of Live Nation Entertainment from $181.00 to $208.00 and gave the company a “buy” rating in a report on Monday, July 20th. Oppenheimer set a $100.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, July 28th. TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Finally, BTIG Research reiterated a “buy” rating and set a $215.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Insider Activity

In other news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the transaction, the chief accounting officer owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $170.14 on Friday. The business has a 50 day moving average of $180.34 and a 200-day moving average of $169.07. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year 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. The company has a market capitalization of $40.09 billion, a P/E ratio of -150.57 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, July 30th. The company reported $1.05 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 business had revenue of $7.67 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the company earned $0.41 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.12 earnings per share for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that produces, promotes and operates concerts, music festivals and other live events. Through its concert promotion business, the company works with artists and venues to organize events across a broad range of music genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related technology for concerts, sports and other events. In addition, Live Nation manages and operates entertainment venues and provides sponsorship and advertising services that connect brands with live audiences.

Live Nation was formed in 2005 through the combination of Clear Channel Entertainment’s live entertainment business and Live Nation.