Josh Arnold Investment Consultant LLC Cuts Holdings in Live Nation Entertainment, Inc. $LYV

Josh Arnold Investment Consultant LLC lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,625 shares of the company’s stock after selling 3,550 shares during the quarter. Live Nation Entertainment comprises approximately 0.9% of Josh Arnold Investment Consultant LLC’s investment portfolio, making the stock its 8th largest holding. Josh Arnold Investment Consultant LLC’s holdings in Live Nation Entertainment were worth $1,657,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its position in shares of 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 acquiring an additional 547 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock valued at $121,000 after acquiring an additional 109 shares in the last quarter. Cerity Partners LLC boosted its stake in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after purchasing an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in 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 purchasing an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock worth $334,000 after purchasing an additional 1,711 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LYV shares. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.50.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at $33,622,555.84. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.89% of the stock is owned by company insiders.

Live Nation Entertainment Stock Down 0.4%

LYV opened at $170.78 on Friday. The stock has a market cap of $40.23 billion, a price-to-earnings ratio of -96.48 and a beta of 1.12. The company’s 50-day moving average price is $163.80 and its two-hundred day moving average price is $154.10. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $176.00.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Live Nation Entertainment 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.