Allianz Asset Management GmbH Has $1.64 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Allianz Asset Management GmbH reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 19.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,541 shares of the company's stock after selling 3,004 shares during the period. Allianz Asset Management GmbH's holdings in Live Nation Entertainment were worth $1,638,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Live Nation Entertainment by 9.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 12,081 shares of the company's stock valued at $1,577,000 after purchasing an additional 1,044 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Live Nation Entertainment by 150.9% in the first quarter. Private Advisor Group LLC now owns 4,388 shares of the company's stock valued at $573,000 after purchasing an additional 2,639 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $672,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $222,000. Finally, Victory Capital Management Inc. raised its holdings in shares of Live Nation Entertainment by 26.0% in the first quarter. Victory Capital Management Inc. now owns 144,811 shares of the company's stock valued at $18,909,000 after purchasing an additional 29,855 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LYV shares. Guggenheim reiterated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Roth Mkm decreased 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 research note on Friday, May 2nd. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Wolfe Research lifted their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. 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 data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $165.82.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the business's 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 completion of the transaction, the executive vice president owned 189,456 shares of the company's stock, 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 through this link. 3.01% of the stock is currently owned by company insiders.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded down $1.53 during trading on Friday, reaching $146.17. The company's stock had a trading volume of 1,725,926 shares, compared to its average volume of 1,839,715. The business's 50-day moving average price is $146.35 and its 200-day moving average price is $139.39. The firm has a market cap of $33.88 billion, a PE ratio of 49.89, a P/E/G ratio of 5.75 and a beta of 1.46. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company's revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.