Live Nation Entertainment, Inc. $LYV Stock Position Cut by Independent Franchise Partners LLP

Independent Franchise Partners LLP reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,540,614 shares of the company’s stock after selling 99,692 shares during the quarter. Live Nation Entertainment accounts for about 6.0% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 3rd largest holding. Independent Franchise Partners LLP owned about 2.36% of Live Nation Entertainment worth $905,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in LYV. Clearstead Trust LLC boosted its stake in Live Nation Entertainment by 469.0% during the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 136 shares during the last quarter. Ameriflex Group Inc. increased its position in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $33,000. Heartwood Wealth Advisors LLC bought a new position in shares of Live Nation Entertainment during the third quarter worth about $34,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment in the third quarter worth about $37,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LYV shares. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Evercore reiterated an “outperform” rating and issued a $198.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. TD Cowen reissued a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Finally, Rothschild & Co Redburn raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $166.00 to $193.00 in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $184.40.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Down 3.9%

NYSE:LYV opened at $154.14 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The stock has a 50 day moving average of $151.35 and a 200-day moving average of $150.42. The firm has a market capitalization of $36.19 billion, a PE ratio of -642.25 and a beta of 1.11. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same period last year, the business posted $0.58 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.