Cerity Partners LLC Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cerity Partners LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 34.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,946 shares of the company's stock after selling 13,806 shares during the period. Cerity Partners LLC's holdings in Live Nation Entertainment were worth $3,388,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $29,000. Wayfinding Financial LLC bought a new stake in Live Nation Entertainment in the 1st quarter valued at about $30,000. Chilton Capital Management LLC bought a new stake in Live Nation Entertainment in the 1st quarter valued at about $33,000. Murphy & Mullick Capital Management Corp bought a new stake in Live Nation Entertainment in the 4th quarter valued at about $40,000. Finally, Private Trust Co. NA boosted its holdings in Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after purchasing an additional 196 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on LYV shares. Rosenblatt Securities cut their price target 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. Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective for the company. Wolfe Research upped 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. Finally, Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.24.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.01% of the company's stock.

Live Nation Entertainment Price Performance

LYV traded down $0.12 during trading hours on Friday, hitting $150.60. The company's stock had a trading volume of 1,470,834 shares, compared to its average volume of 2,347,502. The business's 50-day moving average price is $145.12 and its 200-day moving average price is $138.09. Live Nation Entertainment, Inc. has a 12 month low of $87.33 and a 12 month high of $157.75. The stock has a market cap of $34.90 billion, a price-to-earnings ratio of 51.40, a P/E/G ratio of 5.83 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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 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 4.28% and a return on equity of 125.77%. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.