Kestra Private Wealth Services LLC Has $673,000 Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Kestra Private Wealth Services cut its Live Nation stake by 63.3% in Q1, selling 7,620 shares and leaving it with 4,410 shares valued at about $673,000.
• Live Nation reported a quarterly EPS loss of ($1.85), missing estimates, but revenue came in at $3.79 billion, topping expectations and rising 12.1% year over year.
• The stock was trading near its 52-week high at $186.07, while analysts remain broadly positive with a Moderate Buy consensus and an average target price of $188.50.

Kestra Private Wealth Services LLC decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 63.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,410 shares of the company's stock after selling 7,620 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Live Nation Entertainment were worth $673,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company's stock valued at $2,269,000 after buying an additional 547 shares during the period. EverSource Wealth Advisors LLC raised its stake in Live Nation Entertainment by 15.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company's stock worth $121,000 after buying an additional 109 shares during the period. Cerity Partners LLC raised its stake in Live Nation Entertainment by 6.0% during the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company's stock worth $4,160,000 after buying an additional 1,550 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Live Nation Entertainment by 15.9% during the second quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company's stock worth $3,983,000 after acquiring an additional 3,604 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Live Nation Entertainment by 344.3% in the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company's stock valued at $334,000 after acquiring an additional 1,711 shares during the period. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Up 1.1%

LYV stock opened at $186.07 on Friday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $43.83 billion, a P/E ratio of -105.13 and a beta of 1.11. The business has a 50-day moving average of $167.20 and a 200-day moving average of $156.90. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $187.63.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm's quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) EPS. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the firm's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president directly owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on LYV shares. The Goldman Sachs Group raised their price target on Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Live Nation Entertainment from a "strong sell" rating to a "hold" rating in a report on Friday, May 8th. Guggenheim lifted their price target on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of "Moderate Buy" and an average target price of $188.50.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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