Gulf International Bank UK Ltd Lowers Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Gulf International Bank UK Ltd has reduced its stake in Live Nation Entertainment by 27.9%, now holding 9,087 shares worth approximately $1.19 million.
• Several institutional investors have increased their holdings in Live Nation, with Vanguard Group owning 19.9 million shares valued at approximately $2.6 billion after a 3.7% increase.
• Live Nation reported mixed quarterly earnings with $0.41 earnings per share, missing estimates by $0.67, but achieved revenue of $7.01 billion, exceeding analyst expectations.

Gulf International Bank UK Ltd reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 9,087 shares of the company's stock after selling 3,508 shares during the quarter. Gulf International Bank UK Ltd's holdings in Live Nation Entertainment were worth $1,186,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after acquiring an additional 713,020 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company's stock worth $991,952,000 after acquiring an additional 294,310 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after acquiring an additional 777,105 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 worth $366,195,000 after acquiring an additional 884,745 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Live Nation Entertainment by 54.2% in the 4th quarter. Capital World Investors now owns 1,707,284 shares of the company's stock worth $221,093,000 after acquiring an additional 599,784 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LYV shares. Wolfe Research upped their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Roth Mkm dropped their price objective 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. Guggenheim reissued 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, Benchmark increased their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Eighteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Live Nation Entertainment has a consensus rating of "Buy" and an average target price of $168.94.

Live Nation Entertainment Stock Down 0.9%

Shares of Live Nation Entertainment stock traded down $1.3950 during trading hours on Wednesday, hitting $161.5050. The company had a trading volume of 680,713 shares, compared to its average volume of 2,493,293. The company's 50-day moving average is $149.97 and its two-hundred day moving average is $140.89. Live Nation Entertainment, Inc. has a twelve month low of $92.57 and a twelve month high of $164.06. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $37.87 billion, a P/E ratio of 69.98, a price-to-earnings-growth ratio of 9.78 and a beta of 1.46.

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