2Xideas AG Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

2Xideas AG reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 107,403 shares of the company’s stock after selling 22,783 shares during the quarter. Live Nation Entertainment accounts for 1.4% of 2Xideas AG’s portfolio, making the stock its 29th largest position. 2Xideas AG’s holdings in Live Nation Entertainment were worth $11,360,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of Live Nation Entertainment by 112.3% in the fourth quarter. SG Americas Securities LLC now owns 10,850 shares of the company’s stock valued at $1,016,000 after buying an additional 99,340 shares in the last quarter. Raymond James & Associates grew its position in Live Nation Entertainment by 4.4% in the fourth quarter. Raymond James & Associates now owns 86,784 shares of the company’s stock valued at $8,123,000 after acquiring an additional 3,676 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $243,000. Caprock Group LLC lifted its position in shares of Live Nation Entertainment by 66.0% during the fourth quarter. Caprock Group LLC now owns 4,425 shares of the company’s stock worth $414,000 after purchasing an additional 1,759 shares in the last quarter. Finally, Baskin Financial Services Inc. boosted its stake in shares of Live Nation Entertainment by 1.3% in the fourth quarter. Baskin Financial Services Inc. now owns 299,507 shares of the company’s stock valued at $28,034,000 after purchasing an additional 3,848 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock traded down $0.81 on Tuesday, hitting $94.66. 3,056,181 shares of the stock traded hands, compared to its average volume of 2,207,382. The company has a market capitalization of $21.75 billion, a PE ratio of 90.15, a PEG ratio of 2.09 and a beta of 1.34. The company’s fifty day moving average is $93.67 and its 200 day moving average is $94.96. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the company posted $1.02 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LYV shares. JPMorgan Chase & Co. dropped their price target on shares of Live Nation Entertainment from $126.00 to $116.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 29th. Oppenheimer reaffirmed an “outperform” rating and set a $110.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 6th. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a report on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $115.58.

Live Nation Entertainment Profile

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.