2Xideas AG Sells 50,037 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

2Xideas AG trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 61.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 31,819 shares of the company’s stock after selling 50,037 shares during the quarter. 2Xideas AG’s holdings in Live Nation Entertainment were worth $4,121,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amundi raised its holdings in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after buying an additional 39,302 shares during the period. Wealthfront Advisers LLC boosted its holdings in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after acquiring an additional 33,980 shares during the period. Atria Wealth Solutions Inc. bought a new position in Live Nation Entertainment in the 4th quarter valued at $226,000. Charles Schwab Investment Management Inc. lifted its position in shares of Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after purchasing an additional 48,949 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $754,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LYV shares. Benchmark reissued a “buy” rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $174.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

Live Nation Entertainment Stock Down 4.0 %

Live Nation Entertainment stock opened at $121.00 on Friday. The business has a fifty day moving average price of $137.16 and a 200-day moving average price of $129.64. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.81 and a beta of 1.31. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

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

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. Insiders own 2.72% of the company’s stock.

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.