Steph & Co. Reduces Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Steph & Co. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,447 shares of the company’s stock after selling 106 shares during the quarter. Steph & Co.’s holdings in Live Nation Entertainment were worth $187,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the 3rd quarter worth $31,000. World Investment Advisors LLC acquired a new position in shares of Live Nation Entertainment in the third quarter worth about $38,000. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $41,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the 3rd quarter valued at approximately $42,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of Live Nation Entertainment in the third quarter worth $46,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $133.37 on Thursday. The firm’s 50-day simple moving average is $133.08 and its 200 day simple moving average is $112.89. The stock has a market cap of $30.99 billion, a P/E ratio of 141.88, a P/E/G ratio of 1.50 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 $86.67 and a fifty-two week high of $141.18.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same period in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYV. Roth Mkm upped their target price on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Citigroup boosted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, 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 report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.40.

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.