Forvis Mazars Wealth Advisors LLC Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Forvis Mazars Wealth Advisors LLC cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,329 shares of the company’s stock after selling 332 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Live Nation Entertainment were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Paradigm Asset Management Co. LLC lifted its holdings in Live Nation Entertainment by 222.7% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 3,043 shares of the company’s stock worth $394,000 after buying an additional 2,100 shares during the period. Compass Capital Corp MA ADV purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $1,496,000. ING Groep NV purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $2,044,000. Handelsbanken Fonder AB lifted its holdings in Live Nation Entertainment by 24.7% in the fourth quarter. Handelsbanken Fonder AB now owns 3,807 shares of the company’s stock worth $493,000 after buying an additional 755 shares during the period. Finally, Plan Group Financial LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $210,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of LYV opened at $154.59 on Tuesday. The company has a market capitalization of $35.92 billion, a P/E ratio of 56.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50 day moving average of $139.57 and a 200 day moving average of $123.19. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping 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 business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on LYV. Oppenheimer raised their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. The Goldman Sachs Group lifted 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. Morgan Stanley lifted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Finally, Guggenheim lifted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

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.