CIBC Private Wealth Group LLC Sells 5,256 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

CIBC Private Wealth Group LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,971 shares of the company's stock after selling 5,256 shares during the quarter. CIBC Private Wealth Group LLC owned 0.07% of Live Nation Entertainment worth $21,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. World Investment Advisors LLC bought a new stake in Live Nation Entertainment during the third quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth $40,000. Morse Asset Management Inc bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth $42,000. Finally, Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment in the 4th quarter worth $44,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LYV. Morgan Stanley upped their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Benchmark reissued a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a "buy" rating in a report on Friday, February 21st. Rosenblatt Securities reissued a "buy" rating and issued a $174.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Finally, Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded down $5.06 during trading on Friday, reaching $121.00. 3,786,019 shares of the stock traded hands, compared to its average volume of 2,252,076. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day simple moving average of $137.16 and a two-hundred day simple moving average of $129.64. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

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.