TD Asset Management Inc Lowers Position in Live Nation Entertainment, Inc. $LYV

TD Asset Management Inc cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 16.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 307,997 shares of the company’s stock after selling 59,140 shares during the period. TD Asset Management Inc’s holdings in Live Nation Entertainment were worth $43,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Leonteq Securities AG purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $26,000. Ameriflex Group Inc. lifted its holdings in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the period. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth about $30,000. Finally, Blue Trust Inc. lifted its holdings in Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock worth $40,000 after buying an additional 107 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares of the company’s stock, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 157,798 shares of company stock worth $26,088,615 in the last three months. Insiders own 2.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LYV shares. Roth Mkm restated a “buy” rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Susquehanna raised their price objective on shares of Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Guggenheim lifted their target price on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Citizens Jmp started coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a “market outperform” rating and a $190.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.75.

Live Nation Entertainment Price Performance

LYV stock opened at $160.13 on Friday. The firm has a 50 day moving average price of $160.87 and a 200-day moving average price of $151.46. Live Nation Entertainment, Inc. has a 52-week low of $125.34 and a 52-week high of $175.25. The firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of -90.47 and a beta of 1.12. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the business posted ($0.32) earnings per share. Live Nation Entertainment’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.