Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC lowered its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,120,293 shares of the company's stock after selling 313,246 shares during the period. Live Nation Entertainment accounts for 0.8% of DAVENPORT & Co LLC's investment portfolio, making the stock its 23rd largest holding. DAVENPORT & Co LLC owned 0.48% of Live Nation Entertainment worth $146,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Live Nation Entertainment during the first quarter worth about $1,153,000. Amundi raised its stake in Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after acquiring an additional 39,302 shares during the last quarter. Praxis Investment Management Inc. lifted its position in Live Nation Entertainment by 45.2% during the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after acquiring an additional 1,730 shares during the period. Wealthfront Advisers LLC grew 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 valued at $5,140,000 after purchasing an additional 33,980 shares during the last quarter. Finally, Highland Capital Management LLC acquired a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $1,170,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. 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 note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. Roth Mkm dropped their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Guggenheim restated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Macquarie lifted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Price Performance

Shares of LYV traded up $0.16 on Friday, reaching $149.27. The stock had a trading volume of 925,403 shares, compared to its average volume of 2,333,807. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The firm has a market capitalization of $34.60 billion, a PE ratio of 50.95, a PEG ratio of 5.79 and a beta of 1.45. The firm has a 50-day moving average of $142.53 and a 200 day moving average of $137.02. 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 posted its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the company posted $0.60 EPS. The firm's revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.