Equitable Trust Co. Sells 18,285 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Equitable Trust Co. significantly reduced its stake in Live Nation Entertainment by selling 18,285 shares, lowering its ownership by 80.4%, leaving it with only 4,458 shares valued at $674,000.
• Several institutional investors have made new purchases, with Teacher Retirement System of Texas investing approximately $3,081,000, showing increased interest in the company despite Equitable’s sell-off.
• Live Nation Entertainment's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $171.42, while the company reported a significant revenue of $7.01 billion for its latest quarter.

Equitable Trust Co. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 80.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,458 shares of the company's stock after selling 18,285 shares during the quarter. Equitable Trust Co.'s holdings in Live Nation Entertainment were worth $674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new position in Live Nation Entertainment in the first quarter valued at about $1,153,000. Praxis Investment Management Inc. boosted its position in Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after buying an additional 1,730 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment in the first quarter valued at approximately $272,000. Teacher Retirement System of Texas purchased a new stake in Live Nation Entertainment in the first quarter valued at approximately $3,081,000. Finally, Personal CFO Solutions LLC purchased a new stake in Live Nation Entertainment in the first quarter valued at approximately $277,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on LYV. Weiss Ratings restated a "hold (c)" rating on shares of Live Nation Entertainment in a research report on Wednesday, October 8th. Moffett Nathanson began coverage on Live Nation Entertainment in a research report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective on the stock. The Goldman Sachs Group upped their price objective on Live Nation Entertainment from $168.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Rothschild & Co Redburn lowered Live Nation Entertainment from a "buy" rating to a "neutral" rating and increased their target price for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Finally, Guggenheim reiterated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Eighteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.42.

Live Nation Entertainment Stock Up 1.6%

NYSE LYV opened at $155.35 on Thursday. The business has a fifty day moving average price of $162.13 and a 200 day moving average price of $148.10. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $36.42 billion, a P/E ratio of 67.25, a P/E/G ratio of 11.65 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The firm's revenue for the quarter was up 16.3% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.

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