Independent Advisor Alliance Lowers Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Independent Advisor Alliance decreased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,650 shares of the company’s stock after selling 227 shares during the period. Independent Advisor Alliance’s holdings in Live Nation Entertainment were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LYV. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the third quarter worth approximately $41,000. Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares in the last quarter. UMB Bank n.a. raised its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the period. Finally, Family Firm Inc. purchased a new position in shares of Live Nation Entertainment during the 2nd quarter valued at $42,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.6 %

LYV opened at $139.73 on Friday. The stock has a 50-day moving average of $118.98 and a 200 day moving average of $103.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18. The firm has a market cap of $32.47 billion, a P/E ratio of 148.65, a P/E/G 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 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm 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 earned $1.78 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of analyst reports. Evercore ISI increased their price target on 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 increased their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. TD Cowen upped their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $141.53.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. The trade was 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 at this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,799 shares of company stock worth $16,449,718 over the last quarter. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Company 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.