Cooke & Bieler LP Sells 122,860 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Cooke & Bieler LP trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 43.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 160,110 shares of the company's stock after selling 122,860 shares during the quarter. Cooke & Bieler LP owned approximately 0.07% of Live Nation Entertainment worth $20,907,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LYV. Victory Capital Management Inc. grew its stake in Live Nation Entertainment by 26.0% in the 1st quarter. Victory Capital Management Inc. now owns 144,811 shares of the company's stock valued at $18,909,000 after buying an additional 29,855 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock valued at $366,195,000 after buying an additional 884,745 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new position in Live Nation Entertainment in the 1st quarter valued at about $519,000. Apollon Wealth Management LLC acquired a new position in Live Nation Entertainment in the 1st quarter valued at about $388,000. Finally, Hohimer Wealth Management LLC acquired a new position in Live Nation Entertainment in the 1st quarter valued at about $985,000. 74.52% of the stock is owned by institutional investors.

Insider Buying and Selling

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 shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company's stock.

Live Nation Entertainment Stock Down 0.1%

Shares of LYV traded down $0.12 during trading hours on Friday, reaching $150.60. 1,470,834 shares of the stock traded hands, compared to its average volume of 2,339,653. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The stock has a fifty day simple moving average of $144.84 and a 200 day simple moving average of $137.88. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The company has a market cap of $34.90 billion, a price-to-earnings ratio of 51.40, a PEG ratio of 5.76 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results 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). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The firm had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm's revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LYV shares. Roth Mkm decreased their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Rosenblatt Securities decreased their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Benchmark reissued a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective for the company. Finally, Guggenheim reissued a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus price target of $165.24.

About Live Nation Entertainment

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.