Goldman Sachs Group Inc. cut its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185,405 shares of the company's stock after selling 140,230 shares during the quarter. Goldman Sachs Group Inc. owned 0.51% of Live Nation Entertainment worth $110,954,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company's stock valued at $2,324,000 after buying an additional 117 shares in the last quarter. Hohimer Wealth Management LLC boosted its position in Live Nation Entertainment by 1.1% during the third quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company's stock worth $956,000 after purchasing an additional 123 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in Live Nation Entertainment by 15.8% during the fourth quarter. Western Pacific Wealth Management LP now owns 981 shares of the company's stock worth $92,000 after purchasing an additional 134 shares in the last quarter. Spire Wealth Management boosted its position in Live Nation Entertainment by 5.4% during the fourth quarter. Spire Wealth Management now owns 2,833 shares of the company's stock worth $258,000 after purchasing an additional 145 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in Live Nation Entertainment by 5.9% during the fourth quarter. Raymond James Trust N.A. now owns 2,628 shares of the company's stock worth $246,000 after purchasing an additional 147 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Oppenheimer decreased their target price on Live Nation Entertainment from $120.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 24th. Rosenblatt Securities boosted their price target on Live Nation Entertainment from $119.00 to $122.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. Redburn Atlantic raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $114.00 to $115.00 in a report on Thursday, May 9th. JPMorgan Chase & Co. cut their price target on Live Nation Entertainment from $126.00 to $116.00 and set an "overweight" rating for the company in a report on Wednesday, May 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $115.58.
Check Out Our Latest Stock Report on Live Nation Entertainment
Live Nation Entertainment Trading Down 0.3 %
Live Nation Entertainment stock traded down $0.31 during trading on Friday, hitting $88.75. The company's stock had a trading volume of 1,753,148 shares, compared to its average volume of 2,168,672. The stock has a market capitalization of $20.39 billion, a price-to-earnings ratio of 84.52, a P/E/G ratio of 1.81 and a beta of 1.35. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. The stock's fifty day moving average is $94.22 and its 200 day moving average is $93.90. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $107.24.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The business's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) earnings per share. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.38 EPS for the current year.
Live Nation Entertainment Company Profile
(
Free Report)
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.
See Also
Before you consider Live Nation Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Live Nation Entertainment wasn't on the list.
While Live Nation Entertainment currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
