DoubleLine ETF Adviser LP Reduces Position in Live Nation Entertainment, Inc. (NYSE:LYV)

DoubleLine ETF Adviser LP trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,947 shares of the company's stock after selling 3,946 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Live Nation Entertainment were worth $3,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Amundi raised its holdings in Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock worth $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after purchasing an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Live Nation Entertainment during the fourth quarter valued at about $226,000. Aviva PLC lifted its position in shares of Live Nation Entertainment by 1,524.1% during the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after buying an additional 91,081 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock worth $132,088,000 after acquiring an additional 48,949 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $2.77 on Friday, reaching $134.11. 3,356,734 shares of the stock were exchanged, compared to its average volume of 2,236,462. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The business has a 50 day moving average price of $128.41 and a two-hundred day moving average price of $132.50. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The firm has a market capitalization of $31.39 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business's quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the transaction, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. 2.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on LYV. Macquarie boosted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Benchmark reissued a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group increased their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $159.13.

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.