2Xideas AG Decreases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

2Xideas AG trimmed its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 61.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,819 shares of the company’s stock after selling 50,037 shares during the period. 2Xideas AG’s holdings in Live Nation Entertainment were worth $4,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Amundi increased its holdings in Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after buying an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $226,000. Charles Schwab Investment Management Inc. lifted its position in Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after purchasing an additional 48,949 shares during the period. Finally, Friedenthal Financial purchased a new stake in Live Nation Entertainment during the 4th quarter valued at $754,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Bank of America raised their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $160.33.

Live Nation Entertainment Price Performance

LYV stock opened at $121.00 on Friday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company’s fifty day moving average price is $137.16 and its 200-day moving average price is $129.64. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The company has a market capitalization of $28.24 billion, a PE ratio of 44.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 in the last quarter. 2.72% of the stock is owned by corporate insiders.

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.