Cabot Wealth Management Inc. Has $5.12 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Cabot Wealth Management Inc. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 33,870 shares of the company’s stock after selling 229 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Live Nation Entertainment were worth $5,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $33,000. GW&K Investment Management LLC grew its position in shares of Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after purchasing an additional 283 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at approximately $42,000. Finally, Private Trust Co. NA boosted its position in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company’s stock worth $53,000 after acquiring an additional 196 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LYV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Saturday. Moffett Nathanson started coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a “buy” rating and a $195.00 price target for the company. The Goldman Sachs Group upped their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Citigroup reduced their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday. Eighteen research 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.89.

Live Nation Entertainment Trading Down 0.2%

NYSE LYV opened at $152.98 on Friday. The company has a market cap of $35.87 billion, a PE ratio of 66.23, a PEG ratio of 12.17 and a beta of 1.40. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25. The stock has a 50 day moving average of $161.87 and a 200-day moving average of $149.70.

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

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.