Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,396 shares of the company's stock after selling 1,840 shares during the quarter. Brown Advisory Inc.'s holdings in Live Nation Entertainment were worth $2,533,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in Live Nation Entertainment by 31.5% during the first quarter. Envestnet Asset Management Inc. now owns 407,447 shares of the company's stock valued at $53,204,000 after buying an additional 97,664 shares during the period. Chilton Capital Management LLC acquired a new stake in shares of Live Nation Entertainment during the 1st quarter valued at about $33,000. HM Payson & Co. increased its stake in shares of Live Nation Entertainment by 9.5% in the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company's stock valued at $150,000 after purchasing an additional 100 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Live Nation Entertainment in the 1st quarter worth about $30,000. Finally, IFM Investors Pty Ltd boosted its position in Live Nation Entertainment by 7.3% during the first quarter. IFM Investors Pty Ltd now owns 30,486 shares of the company's stock worth $3,981,000 after purchasing an additional 2,074 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $143.91 on Friday. The firm has a 50 day simple moving average of $143.75 and a 200-day simple moving average of $137.47. The stock has a market cap of $33.35 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 5.58 and a beta of 1.45. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75.

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

Insider Activity

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction 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 $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.01% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Guggenheim restated a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Roth Mkm dropped their target price 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. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Finally, Rosenblatt Securities decreased their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.24.

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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