Bank Julius Baer & Co. Ltd Zurich Reduces Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Bank Julius Baer & Co. Ltd Zurich reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 65,987 shares of the company’s stock after selling 264 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Live Nation Entertainment were worth $8,943,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $31,000. World Investment Advisors LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at $38,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment in the third quarter worth $42,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment in the fourth quarter worth $42,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment during the fourth quarter worth $44,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on LYV shares. Evercore ISI raised their price target 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. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft lifted 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. Morgan Stanley increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Two research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction 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 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 hyperlink. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 2.7 %

NYSE LYV opened at $127.56 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a 50 day moving average price of $140.47 and a 200 day moving average price of $125.78. 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 market cap of $29.77 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.