Live Nation Entertainment, Inc. (NYSE:LYV) Stock Position Reduced by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,576 shares of the company's stock after selling 6,411 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Live Nation Entertainment were worth $8,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board boosted its stake in Live Nation Entertainment by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 8,650,015 shares of the company's stock worth $1,120,177,000 after buying an additional 44,703 shares during the last quarter. Principal Financial Group Inc. boosted its stake in 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 buying an additional 294,310 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Geode Capital Management LLC increased its stake in Live Nation Entertainment by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 3,871,850 shares of the company's stock worth $500,107,000 after acquiring an additional 108,293 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 32.0% during the fourth 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. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 0.0%

LYV traded up $0.06 on Friday, reaching $152.95. The company's stock had a trading volume of 1,202,734 shares, compared to its average volume of 1,944,418. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of 52.20, a price-to-earnings-growth ratio of 5.95 and a beta of 1.45. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The business's 50 day moving average is $145.95 and its 200 day moving average is $138.87.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the transaction, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on LYV shares. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Roth Mkm dropped their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Benchmark restated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Sanford C. Bernstein started coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. Finally, Wolfe Research upped their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $166.12.

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.