Apollon Wealth Management LLC Sells 348 Shares of Live Nation Entertainment, Inc. $LYV

Apollon Wealth Management LLC lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,620 shares of the company’s stock after selling 348 shares during the quarter. Apollon Wealth Management LLC’s holdings in Live Nation Entertainment were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC increased its holdings in Live Nation Entertainment by 2.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company’s stock worth $428,000 after acquiring an additional 69 shares during the period. Gilbert & Cook Inc. grew its position in shares of Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company’s stock valued at $723,000 after purchasing an additional 75 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in Live Nation Entertainment by 1.8% during the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company’s stock valued at $835,000 after buying an additional 97 shares during the period. Trust Asset Management LLC boosted its stake in Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company’s stock valued at $233,000 after buying an additional 98 shares during the period. Finally, Callan Family Office LLC boosted its stake in Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company’s stock valued at $732,000 after buying an additional 98 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $155.15 on Friday. The company’s fifty day moving average is $162.24 and its 200 day moving average is $148.40. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The stock has a market cap of $36.38 billion, a PE ratio of 67.17, a PEG ratio of 11.64 and a beta of 1.40. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The company had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Benchmark lifted their price objective on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Finally, Citigroup raised their price target on Live Nation Entertainment from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $171.42.

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.