CIBC Private Wealth Group LLC Reduces Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

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

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC bought a new stake in Live Nation Entertainment during the third quarter worth $38,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $40,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $44,000. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research analyst reports. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Bank of America upped their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $160.33.

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Live Nation Entertainment Trading Down 6.6 %

Shares of LYV traded down $8.85 during mid-day trading on Thursday, hitting $125.80. 3,395,038 shares of the company's stock traded hands, compared to its average volume of 2,236,279. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The firm has a market capitalization of $29.36 billion, a P/E ratio of 46.25, a PEG ratio of 1.81 and a beta of 1.38. The business's 50-day moving average price is $137.82 and its 200-day moving average price is $129.34.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last three months. 2.72% of the stock is currently owned by company insiders.

About Live Nation Entertainment

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.