Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,016 shares of the company's stock after selling 3,217 shares during the quarter. Gateway Investment Advisers LLC's holdings in Live Nation Entertainment were worth $10,362,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cromwell Holdings LLC boosted its position in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock worth $47,000 after buying an additional 88 shares during the period. Private Advisor Group LLC lifted its position in Live Nation Entertainment by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company's stock worth $352,000 after acquiring an additional 89 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Live Nation Entertainment by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company's stock worth $728,000 after acquiring an additional 95 shares during the period. Empirical Finance LLC grew its position in Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company's stock valued at $508,000 after acquiring an additional 105 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its holdings in Live Nation Entertainment by 3.2% during the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company's stock valued at $360,000 after purchasing an additional 120 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on LYV shares. Guggenheim increased 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Bank of America upped their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.40.

Live Nation Entertainment Stock Performance

NYSE:LYV traded up $2.15 during mid-day trading on Friday, hitting $135.71. The stock had a trading volume of 1,220,340 shares, compared to its average volume of 1,570,495. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50 day simple moving average of $133.26 and a 200-day simple moving average of $113.03. The stock has a market capitalization of $31.53 billion, a price-to-earnings ratio of 144.37, a P/E/G ratio of 1.50 and a beta of 1.38. Live Nation Entertainment, Inc. has a 52 week low of $86.67 and a 52 week high of $141.18.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The business's revenue was down 6.2% on a year-over-year basis. On average, research analysts expect that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current fiscal year.

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.