Bank Julius Baer & Co. Ltd Zurich Sells 264 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,987 shares of the company’s stock after selling 264 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Live Nation Entertainment were worth $8,943,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at $111,094,000. PointState Capital LP purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after purchasing an additional 385,143 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Live Nation Entertainment by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 2.7 %

Shares of LYV stock opened at $127.56 on Friday. The stock’s 50-day moving average price is $140.47 and its 200-day moving average price is $125.78. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 46.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Bank of America increased their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment 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.