Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors reduced its holdings in Live Nation Entertainment by 20.4%, now owning 19,627 shares valued at approximately $2,563,000.
• Insider selling has occurred, with EVP John Hopmans selling 34,808 shares for over $5 million, indicating a decrease in their ownership.
• Analysts are optimistic about Live Nation, with several brokerages issuing buy ratings and setting target prices between $164.00 and $185.00.

Accuvest Global Advisors lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,627 shares of the company's stock after selling 5,036 shares during the period. Live Nation Entertainment makes up approximately 2.2% of Accuvest Global Advisors' holdings, making the stock its 16th biggest position. Accuvest Global Advisors' holdings in Live Nation Entertainment were worth $2,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential PLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $229,000. Resona Asset Management Co. Ltd. bought a new position in Live Nation Entertainment during the fourth quarter valued at approximately $6,054,000. Envestnet Asset Management Inc. grew its holdings in Live Nation Entertainment by 17.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 309,783 shares of the company's stock valued at $40,117,000 after buying an additional 46,425 shares in the last quarter. Phoenix Financial Ltd. increased its stake in Live Nation Entertainment by 18.9% in the 4th quarter. Phoenix Financial Ltd. now owns 35,929 shares of the company's stock worth $4,653,000 after acquiring an additional 5,704 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of Live Nation Entertainment by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 69,443 shares of the company's stock worth $8,993,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president owned 189,456 shares in the company, valued at $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.01% of the stock is owned by company insiders.

Live Nation Entertainment Trading Up 3.4%

Shares of NYSE:LYV traded up $4.97 on Friday, hitting $153.24. 3,917,188 shares of the company's stock were exchanged, compared to its average volume of 1,975,276. Live Nation Entertainment, Inc. has a 12 month low of $90.69 and a 12 month high of $157.75. The stock has a market capitalization of $35.52 billion, a price-to-earnings ratio of 66.34, a price-to-earnings-growth ratio of 4.90 and a beta of 1.46. The business's 50 day simple moving average is $147.40 and its two-hundred day simple moving average is $140.01. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to analysts' expectations of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 108.31%. The business's quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LYV. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark raised their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a report on Friday. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Roth Mkm cut their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Rosenblatt Securities cut their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.94.

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.