Live Nation Entertainment, Inc. $LYV Stock: Baskin Financial Services Inc. Decreases Position

Baskin Financial Services Inc. trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,352 shares of the company’s stock after selling 5,354 shares during the period. Live Nation Entertainment makes up 4.0% of Baskin Financial Services Inc.’s portfolio, making the stock its 8th biggest position. Baskin Financial Services Inc. owned 0.12% of Live Nation Entertainment worth $49,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan lifted its holdings in Live Nation Entertainment by 0.3% during the second quarter. Nissay Asset Management Corp Japan now owns 21,068 shares of the company’s stock worth $3,858,000 after acquiring an additional 66 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Live Nation Entertainment by 7.7% in the second quarter. MCF Advisors LLC now owns 1,188 shares of the company’s stock worth $218,000 after acquiring an additional 85 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Live Nation Entertainment by 1.6% in the second quarter. Sequoia Financial Advisors LLC now owns 5,685 shares of the company’s stock worth $1,041,000 after acquiring an additional 89 shares in the last quarter. Wedmont Private Capital raised its position in shares of Live Nation Entertainment by 6.9% during the third quarter. Wedmont Private Capital now owns 1,427 shares of the company’s stock worth $245,000 after purchasing an additional 92 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Live Nation Entertainment by 1.9% during the 1st quarter. Arkadios Wealth Advisors now owns 5,361 shares of the company’s stock valued at $818,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on LYV. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, August 3rd. Guggenheim increased their target price on Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings downgraded shares of Live Nation Entertainment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Susquehanna lifted their price target on shares of Live Nation Entertainment from $186.00 to $187.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $205.00 price target on shares of Live Nation Entertainment in a report on Friday, July 31st. Twenty equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus price target of $197.43.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the transaction, the chief accounting officer directly owned 8,655 shares of the company’s stock, valued at $1,592,520. This trade represents a 25.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Up 0.7%

Shares of NYSE:LYV traded up $1.19 during mid-day trading on Monday, reaching $171.70. 476,977 shares of the stock were exchanged, compared to its average volume of 2,522,477. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a market cap of $40.46 billion, a P/E ratio of -151.98 and a beta of 1.17. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The stock’s 50 day simple moving average is $175.05 and its 200-day simple moving average is $171.52.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%. Live Nation Entertainment’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 EPS. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.12 EPS for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.