Live Nation Entertainment, Inc. $LYV Shares Sold by Raab & Moskowitz Asset Management LLC

Key Points

• Raab & Moskowitz Asset Management LLC reduced its holdings in Live Nation Entertainment by 9.6%, now owning 16,829 shares worth approximately $2.2 million.
• Live Nation reported a quarterly earnings miss with EPS of $0.41 versus an expected $1.08, although revenues increased 16.3% year-over-year to $7.01 billion.
• The stock has a current average price target of $168.94 with 18 analysts rating it as "Buy", indicating positive sentiment among equity analysts.

Raab & Moskowitz Asset Management LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,829 shares of the company's stock after selling 1,778 shares during the quarter. Raab & Moskowitz Asset Management LLC's holdings in Live Nation Entertainment were worth $2,198,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYV. Mercer Global Advisors Inc. ADV raised its holdings in Live Nation Entertainment by 17.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,021 shares of the company's stock worth $780,000 after purchasing an additional 899 shares during the last quarter. Baird Financial Group Inc. purchased a new position in Live Nation Entertainment during the fourth quarter worth $345,000. Captrust Financial Advisors increased its position in Live Nation Entertainment by 229.1% during the fourth quarter. Captrust Financial Advisors now owns 31,742 shares of the company's stock worth $4,111,000 after buying an additional 22,096 shares in the last quarter. Cetera Investment Advisers increased its position in Live Nation Entertainment by 14.8% during the fourth quarter. Cetera Investment Advisers now owns 8,790 shares of the company's stock worth $1,138,000 after buying an additional 1,132 shares in the last quarter. Finally, Fiduciary Trust Co purchased a new position in Live Nation Entertainment during the fourth quarter worth $242,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

LYV stock opened at $163.27 on Friday. The stock has a 50-day moving average price of $154.84 and a two-hundred day moving average price of $142.20. Live Nation Entertainment, Inc. has a 12-month low of $92.57 and a 12-month high of $167.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The company has a market cap of $38.28 billion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 11.02 and a beta of 1.42.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.93 billion. During the same period last year, the firm posted $1.03 EPS. Live Nation Entertainment's revenue was up 16.3% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LYV shares. Moffett Nathanson started coverage on Live Nation Entertainment in a research report on Monday, August 18th. They set a "buy" rating and a $195.00 price target for the company. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Wolfe Research raised their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Morgan Stanley set a $180.00 price objective on Live Nation Entertainment in a research report on Thursday, July 24th. Finally, Benchmark lifted their price objective on 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 research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment 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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