Live Nation Entertainment, Inc. $LYV Shares Sold by IFG Advisory LLC

IFG Advisory LLC reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,978 shares of the company’s stock after selling 498 shares during the period. IFG Advisory LLC’s holdings in Live Nation Entertainment were worth $299,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Citigroup cut their target price on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective for the company. Eighteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.42.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $149.89 on Tuesday. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm has a 50-day moving average of $160.28 and a two-hundred day moving average of $150.88. The company has a market capitalization of $35.15 billion, a price-to-earnings ratio of 64.89, a PEG ratio of 12.85 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 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.