Freemont Management S.A. Cuts Stake in Live Nation Entertainment, Inc. $LYV

Freemont Management S.A. cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 88.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,000 shares of the company’s stock after selling 14,700 shares during the period. Freemont Management S.A.’s holdings in Live Nation Entertainment were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LYV. Ground Swell Capital LLC purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $224,000. Illinois Municipal Retirement Fund increased its holdings in shares of Live Nation Entertainment by 43.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,917 shares of the company’s stock worth $3,581,000 after purchasing an additional 6,659 shares in the last quarter. Caprock Group LLC bought a new position in shares of Live Nation Entertainment during the third quarter valued at $418,000. Stratos Wealth Partners LTD. boosted its position in shares of Live Nation Entertainment by 119.6% during the third quarter. Stratos Wealth Partners LTD. now owns 5,359 shares of the company’s stock valued at $876,000 after buying an additional 2,919 shares during the last quarter. Finally, MQS Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter worth about $428,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 2.5%

Shares of LYV stock opened at $154.83 on Friday. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 112.19, a PEG ratio of 9.98 and a beta of 1.18. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The firm has a fifty day moving average price of $143.86 and a 200-day moving average price of $149.90.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYV. Evercore upped their target price on shares of Live Nation Entertainment from $168.00 to $188.00 and gave the company an “outperform” rating in a research note on Tuesday, December 23rd. Morgan Stanley decreased their price objective on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on shares of Live Nation Entertainment from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. Zacks Research lowered shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, January 16th. Finally, UBS Group initiated coverage on Live Nation Entertainment in a research note on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price target on the stock. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $172.45.

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.