Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Cadence Bank

Cadence Bank decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,951 shares of the company’s stock after selling 645 shares during the period. Cadence Bank’s holdings in Live Nation Entertainment were worth $1,090,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the third quarter worth about $31,000. Quantbot Technologies LP raised its holdings in Live Nation Entertainment by 86.1% during the third quarter. Quantbot Technologies LP now owns 13,577 shares of the company’s stock worth $1,487,000 after purchasing an additional 6,282 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Live Nation Entertainment by 8.0% during the third quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock worth $10,601,000 after purchasing an additional 7,143 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Live Nation Entertainment by 15.4% during the third quarter. Daiwa Securities Group Inc. now owns 19,419 shares of the company’s stock worth $2,126,000 after purchasing an additional 2,597 shares in the last quarter. Finally, Managed Asset Portfolios LLC raised its holdings in Live Nation Entertainment by 0.7% during the third quarter. Managed Asset Portfolios LLC now owns 40,303 shares of the company’s stock worth $4,413,000 after purchasing an additional 263 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen increased their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Benchmark increased their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Evercore ISI increased their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.53.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Stock Up 0.6 %

LYV stock opened at $139.73 on Thursday. The company’s 50 day simple moving average is $118.24 and its 200-day simple moving average is $102.87. The firm has a market capitalization of $32.47 billion, a PE ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the business earned $1.78 earnings per share. Live Nation Entertainment’s revenue was down 6.2% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

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.