Avalon Trust Co Sells 300 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Avalon Trust Co trimmed its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 23.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,000 shares of the company’s stock after selling 300 shares during the period. Avalon Trust Co’s holdings in Live Nation Entertainment were worth $131,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LYV. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a “positive” rating in a research report on Tuesday, June 10th. Rosenblatt Securities reduced their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Wolfe Research lifted their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Roth Mkm lowered their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $165.82.

Insider Buying and Selling

In other news, EVP John Hopmans sold 34,808 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president directly owned 189,456 shares of the company’s stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $146.17 on Monday. The firm has a market cap of $33.88 billion, a PE ratio of 49.89, a PEG ratio of 5.69 and a beta of 1.46. 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 1-year low of $87.33 and a 1-year high of $157.75. The company has a fifty day moving average price of $146.37 and a 200 day moving average price of $139.57.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.