UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 39,497 Shares of Live Nation Entertainment, Inc. $LYV

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.6% during the 2nd quarter, Holdings Channel reports. The firm owned 660,271 shares of the company’s stock after selling 39,497 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Live Nation Entertainment were worth $120,902,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after buying an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Live Nation Entertainment by 15.8% in the second quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares during the period. Cerity Partners LLC boosted its holdings in Live Nation Entertainment by 6.0% in the second quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock valued at $4,160,000 after acquiring an additional 1,550 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Live Nation Entertainment by 15.9% in the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock valued at $3,983,000 after acquiring an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in Live Nation Entertainment by 344.3% during the 2nd quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after purchasing an additional 1,711 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 2,900 shares of Live Nation Entertainment stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.00, for a total value of $533,600.00. Following the sale, the chief accounting officer directly owned 8,655 shares in the company, valued at approximately $1,592,520. The trade was a 25.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYV. Benchmark raised their target price on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $205.00 target price on shares of Live Nation Entertainment in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Roth Capital set a $208.00 price target on Live Nation Entertainment in a report on Friday, July 31st. Twenty analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $197.19.

Live Nation Entertainment Stock Down 1.3%

LYV opened at $177.49 on Wednesday. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of -157.07 and a beta of 1.11. The company has a debt-to-equity ratio of 8.25, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day moving average is $181.61 and its 200 day moving average is $168.31. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $189.24.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.39. The business had revenue of $7.67 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Live Nation Entertainment had a return on equity of 54.61% and a net margin of 0.34%.The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.05 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.