Raymond James Trust N.A. Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Raymond James Trust N.A. lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,274 shares of the company’s stock after selling 572 shares during the period. Raymond James Trust N.A.’s holdings in Live Nation Entertainment were worth $249,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Select Equity Group L.P. increased its holdings in Live Nation Entertainment by 12.3% in the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Live Nation Entertainment by 1.8% in the second quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company’s stock valued at $817,658,000 after buying an additional 155,920 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Live Nation Entertainment by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the period. D1 Capital Partners L.P. lifted its position in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after acquiring an additional 1,093,000 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its holdings in Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after acquiring an additional 855,197 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, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Price Performance

LYV opened at $139.73 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s 50-day moving average price is $118.24 and its 200 day moving average price is $102.87. Live Nation Entertainment, Inc. has a fifty-two week low of $81.38 and a fifty-two week high of $141.18. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 148.65, a price-to-earnings-growth ratio of 3.81 and a beta of 1.33.

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

Analysts Set New Price Targets

A number of research firms have recently commented on LYV. Citigroup boosted their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Benchmark upped their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer lifted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America increased their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Company 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.