Victory Capital Management Inc. Sells 4,880 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Victory Capital Management Inc. cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,205 shares of the company's stock after selling 4,880 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Live Nation Entertainment worth $12,833,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LYV. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Live Nation Entertainment by 1.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 350,497 shares of the company's stock worth $38,376,000 after purchasing an additional 6,512 shares in the last quarter. Quantum Private Wealth LLC bought a new position in Live Nation Entertainment in the third quarter worth approximately $224,000. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.2% during the third quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company's stock valued at $787,950,000 after acquiring an additional 87,032 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Live Nation Entertainment by 3.8% in the 3rd quarter. Amalgamated Bank now owns 33,055 shares of the company's stock worth $3,619,000 after purchasing an additional 1,210 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Live Nation Entertainment by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 15,517 shares of the company's stock valued at $1,699,000 after purchasing an additional 1,017 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LYV shares. Guggenheim lifted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Evercore ISI upped their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Bank of America lifted their price objective on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Rosenblatt Securities reiterated a "buy" rating and issued a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Macquarie upped their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $141.53.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the firm's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the sale, the director now owns 53,949 shares of the company's stock, valued at $5,134,865.82. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Rowles sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last quarter. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Price Performance

LYV opened at $136.51 on Thursday. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 145.22, a PEG ratio of 3.59 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average price of $115.09 and a 200-day moving average price of $101.62. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $136.54.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The business 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 business's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 EPS. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.08 EPS for the current year.

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.