Live Nation Entertainment, Inc. $LYV Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 10.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,667 shares of the company’s stock after selling 675 shares during the quarter. Metis Global Partners LLC’s holdings in Live Nation Entertainment were worth $857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GW&K Investment Management LLC boosted its holdings in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock worth $42,000 after buying an additional 283 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Live Nation Entertainment during the first quarter valued at $42,000. TD Private Client Wealth LLC bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at approximately $62,000. Brooklyn Investment Group lifted its stake in Live Nation Entertainment by 95.3% in the first quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock valued at $81,000 after acquiring an additional 301 shares during the last quarter. Finally, MAI Capital Management boosted its holdings in Live Nation Entertainment by 60.1% in the first quarter. MAI Capital Management now owns 663 shares of the company’s stock worth $87,000 after purchasing an additional 249 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LYV shares. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a research report on Tuesday, November 4th. Morgan Stanley dropped their price target on shares of Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Evercore ISI reduced their target price on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Eighteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $174.84.

Live Nation Entertainment Trading Down 1.0%

NYSE:LYV opened at $141.98 on Wednesday. The stock has a market capitalization of $33.33 billion, a PE ratio of 61.46, a price-to-earnings-growth ratio of 12.85 and a beta of 1.37. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50-day simple moving average is $157.32 and its 200-day simple moving average is $151.39.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter in the previous year, the business posted $1.66 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.