Spire Wealth Management trimmed its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating ) by 63.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,441 shares of the company’s stock after selling 2,453 shares during the quarter. Spire Wealth Management’s holdings in Live Nation Entertainment were worth $110,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 2.1% in the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock valued at $1,823,315,000 after purchasing an additional 317,335 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Live Nation Entertainment by 20.9% in the third quarter. Victory Capital Management Inc. now owns 4,093,441 shares of the company’s stock valued at $311,265,000 after purchasing an additional 708,397 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Live Nation Entertainment by 96.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock valued at $435,041,000 after purchasing an additional 1,819,841 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Live Nation Entertainment by 13.8% in the second quarter. William Blair Investment Management LLC now owns 2,477,647 shares of the company’s stock valued at $204,604,000 after buying an additional 300,322 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Live Nation Entertainment by 1.8% in the second quarter. Northern Trust Corp now owns 1,420,151 shares of the company’s stock valued at $117,276,000 after acquiring an additional 24,855 shares during the period. 69.90% of the shares are owned by hedge funds and other institutional investors.
Live Nation Entertainment Stock Performance
NYSE:LYV opened at $81.32 on Thursday. The business’s 50-day moving average is $72.74, and its 200-day moving average is $80.54. Live Nation Entertainment, Inc. has a twelve month low of $65.05 and a twelve month high of $126.79. The stock has a market cap of $18.78 billion, a P/E ratio of 116.17 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 12.85.
Live Nation Entertainment (NYSE:LYV – Get Rating ) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.31. The company had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $4.97 billion. Live Nation Entertainment had a return on equity of 1,222.70% and a net margin of 2.01%. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 0.53 EPS for the current fiscal year.
The Wall Street analyst weighs in
LYV has been the subject of several research reports. Redburn Partners initiated coverage on Live Nation Entertainment in a research note on Tuesday, November 22nd. They set a “neutral” rating for the company. Citigroup raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and cut their target price for the stock from $90.00 to $82.00 in a research note on Monday, November 28th. StockNews.com upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, October 19th. Goldman Sachs Group reduced their target price on Live Nation Entertainment from $130.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Finally, Jefferies Financial Group reduced their target price on Live Nation Entertainment from $120.00 to $92.00 in a research note on Thursday, December 8th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $105.67, based on data from MarketBeat.com.
Live Nation Entertainment Internal Affairs
In related news, Director Jimmy Iovine bought 13,740 shares of the firm’s stock in a transaction on Thursday, December 1st. The shares were acquired at an average price of $73.28 per share, with a total value of $1,006,867.20. Following the purchase, the director now directly owns 13,740 shares of the company’s stock, valued at $1,006,867.20. The purchase was disclosed in a filing with the SEC, which is available through the SEC’s website. 4.01% of shares are currently owned by insiders.
Live Nation Entertainment company profile
Live Nation Entertainment, Inc operates as an entertainment company. The company produces, markets and sells live concerts for artists through its global concert pipeline. It operates through the following segments: Concerts, Sponsorship and Advertising and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in venues leased by third parties.
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