Pathstone Holdings LLC Sells 2,675 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Pathstone Holdings LLC lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,815 shares of the company’s stock after selling 2,675 shares during the period. Pathstone Holdings LLC’s holdings in Live Nation Entertainment were worth $1,403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LYV. Cromwell Holdings LLC raised its position in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares in the last quarter. Empirical Finance LLC boosted its holdings in Live Nation Entertainment by 2.3% during the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after purchasing an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its position in Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after purchasing an additional 110 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the sale, the director now directly owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. This represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,799 shares of company stock worth $16,449,718 in the last quarter. Corporate insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the topic of several analyst reports. Benchmark boosted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Roth Mkm increased their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Guggenheim upped their price target on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, TD Cowen lifted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $139.73 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a 50 day simple moving average of $118.98 and a 200 day simple moving average of $103.13. Live Nation Entertainment, Inc. has a 1-year low of $81.38 and a 1-year high of $141.18. The stock has a market cap of $32.47 billion, a P/E ratio of 148.65, a PEG ratio of 3.81 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

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.