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

Commerce Bank decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 23.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,465 shares of the company’s stock after selling 4,634 shares during the period. Commerce Bank’s holdings in Live Nation Entertainment were worth $1,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in Live Nation Entertainment by 23.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 21,022 shares of the company’s stock valued at $2,302,000 after purchasing an additional 3,976 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Live Nation Entertainment in the third quarter worth about $441,000. Caprock Group LLC grew its holdings in Live Nation Entertainment by 5.7% during the 3rd quarter. Caprock Group LLC now owns 4,693 shares of the company’s stock worth $514,000 after acquiring an additional 253 shares in the last quarter. Swiss National Bank increased its position in Live Nation Entertainment by 0.4% during the 3rd quarter. Swiss National Bank now owns 477,300 shares of the company’s stock valued at $52,260,000 after purchasing an additional 1,700 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 7.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 19,281 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the transaction, the director now owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Trading Up 1.2 %

Shares of NYSE:LYV opened at $140.29 on Friday. 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 52-week low of $81.38 and a 52-week high of $140.29. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 149.24, a PEG ratio of 3.75 and a beta of 1.33. The business has a 50-day moving average price of $116.74 and a 200-day moving average price of $102.23.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.78 EPS. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LYV shares. Benchmark lifted their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Guggenheim boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. TD Cowen raised their price target on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.53.

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.