Guggenheim Capital LLC Decreases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Guggenheim Capital LLC trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 57.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,439 shares of the company's stock after selling 21,863 shares during the quarter. Guggenheim Capital LLC's holdings in Live Nation Entertainment were worth $2,129,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LYV. Smartleaf Asset Management LLC grew its stake in shares of Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after acquiring an additional 75 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company's stock valued at $65,000 after purchasing an additional 80 shares during the last quarter. Western Pacific Wealth Management LP raised its stake in shares of Live Nation Entertainment by 10.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company's stock worth $112,000 after purchasing an additional 82 shares during the period. UMB Bank n.a. raised its position in Live Nation Entertainment by 21.2% in the fourth quarter. UMB Bank n.a. now owns 532 shares of the company's stock worth $69,000 after acquiring an additional 93 shares during the period. Finally, Gilbert & Cook Inc. increased its stake in shares of Live Nation Entertainment by 1.7% during the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company's stock worth $707,000 after purchasing an additional 93 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" 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 report on Tuesday, April 1st. Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Macquarie lifted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Finally, Morgan Stanley upped 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 note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Live Nation Entertainment Stock Up 2.2 %

Live Nation Entertainment stock traded up $2.82 during midday trading on Wednesday, hitting $131.32. 3,284,065 shares of the company's stock were exchanged, compared to its average volume of 2,243,410. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $30.65 billion, a PE ratio of 48.28, a P/E/G ratio of 1.81 and a beta of 1.31. The firm has a 50-day moving average of $131.52 and a two-hundred day moving average of $131.32.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 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 net margin of 3.90% and a return on equity of 139.09%. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was 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 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 legal filing with the SEC, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 over the last three months. Company insiders own 2.72% of the company's stock.

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.