Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 59.5% in the first quarter, HoldingsChannel.com reports. The firm owned 2,893 shares of the company’s stock after selling 4,249 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Live Nation Entertainment were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. acquired a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $1,153,000. Praxis Investment Management Inc. increased its holdings in Live Nation Entertainment by 45.2% in the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company’s stock worth $726,000 after acquiring an additional 1,730 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Live Nation Entertainment during the first quarter worth $272,000. Teacher Retirement System of Texas purchased a new position in Live Nation Entertainment during the first quarter valued at $3,081,000. Finally, Personal CFO Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $277,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.01% of the company’s stock.

Live Nation Entertainment Trading Up 1.1%

Shares of LYV stock opened at $152.13 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The company’s 50-day moving average price is $146.28 and its 200-day moving average price is $139.27. The stock has a market cap of $35.26 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 5.86 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on LYV shares. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an “outperform” rating and a $185.00 price target for the company. Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Susquehanna set a $165.00 price objective on Live Nation Entertainment and gave the company a “positive” rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $165.82.

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.