Amalgamated Bank Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Amalgamated Bank lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,628 shares of the company’s stock after selling 427 shares during the quarter. Amalgamated Bank’s holdings in Live Nation Entertainment were worth $4,225,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. acquired a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $111,094,000. PointState Capital LP purchased a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Live Nation Entertainment by 55.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares during the period. Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 37.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock valued at $155,851,000 after buying an additional 385,143 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake 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 during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.7 %

Shares of LYV stock opened at $143.35 on Friday. The stock has a market cap of $33.31 billion, a P/E ratio of 52.70, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The business has a fifty day simple moving average of $140.25 and a 200-day simple moving average of $124.17.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. On average, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Guggenheim raised 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 report on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Bank of America raised their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday, February 24th. Finally, Citigroup upped their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

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.