Boston Financial Mangement LLC Lowers Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Financial Mangement LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,250 shares of the company’s stock after selling 246 shares during the quarter. Boston Financial Mangement LLC’s holdings in Live Nation Entertainment were worth $2,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. YHB Investment Advisors Inc. bought a new stake in shares of Live Nation Entertainment in the first quarter valued at about $32,000. Rise Advisors LLC increased its holdings in shares of Live Nation Entertainment by 90.3% in the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after acquiring an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Lindbrook Capital LLC lifted its stake in shares of Live Nation Entertainment by 44.1% during the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $41,000 after purchasing an additional 119 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Northcoast Research lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Morgan Stanley restated an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Benchmark reiterated a “buy” rating and issued a $132.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, July 31st. Finally, Oppenheimer restated an “outperform” rating and set a $110.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.17.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $97.67 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $22.44 billion, a PE ratio of 93.02, a P/E/G ratio of 2.18 and a beta of 1.34. The business has a 50-day moving average price of $94.31 and a 200 day moving average price of $95.65. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $1.02 EPS. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the transaction, the director now owns 59,789 shares in the company, valued at approximately $5,626,742.79. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the transaction, the director now owns 15,128 shares in the company, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,201 shares of company stock worth $788,464. 2.85% of the stock is owned by insiders.

About Live Nation Entertainment

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.