Legacy Wealth Asset Management LLC Trims Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Legacy Wealth Asset Management LLC reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 43.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,959 shares of the company's stock after selling 3,036 shares during the period. Legacy Wealth Asset Management LLC's holdings in Live Nation Entertainment were worth $513,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Select Equity Group L.P. boosted its stake in Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company's stock worth $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,722,620 shares of the company's stock worth $817,658,000 after purchasing an additional 155,920 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Live Nation Entertainment by 1.2% in 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. Geode Capital Management LLC increased its position in Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company's stock valued at $410,664,000 after buying an additional 321,832 shares in the last quarter. Finally, D1 Capital Partners L.P. raised its stake 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 buying an additional 1,093,000 shares during the period. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LYV. Oppenheimer boosted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. TD Cowen raised their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $137.00 to $150.00 and gave the stock an "overweight" rating in a report on Thursday, December 12th. Finally, StockNews.com upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $145.40.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded up $2.15 during midday trading on Friday, reaching $135.71. The company had a trading volume of 1,220,340 shares, compared to its average volume of 1,390,037. The stock has a market cap of $31.53 billion, a P/E ratio of 144.37, a P/E/G ratio of 1.50 and a beta of 1.38. The company's 50 day moving average price is $133.51 and its 200 day moving average price is $113.44. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. 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 released its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company's quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.02 EPS 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.