MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Position in Live Nation Entertainment, Inc. (NYSE:LYV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,846 shares of the company's stock after selling 8,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Live Nation Entertainment were worth $3,347,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LYV. Assenagon Asset Management S.A. grew its stake in Live Nation Entertainment by 13.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,148 shares of the company's stock valued at $4,422,000 after acquiring an additional 4,154 shares in the last quarter. Park Avenue Securities LLC grew its stake in Live Nation Entertainment by 44.5% during the 4th quarter. Park Avenue Securities LLC now owns 2,998 shares of the company's stock valued at $388,000 after acquiring an additional 923 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Live Nation Entertainment during the 4th quarter valued at about $310,000. HB Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 4th quarter valued at about $230,000. Finally, Ameritas Advisory Services LLC grew its stake in Live Nation Entertainment by 19.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 8,001 shares of the company's stock valued at $1,036,000 after acquiring an additional 1,301 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 in the last ninety days. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $148.41 on Tuesday. The firm's 50 day moving average price is $129.91 and its 200-day moving average price is $134.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The firm has a market cap of $34.40 billion, a P/E ratio of 54.56, a P/E/G ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Live Nation Entertainment's quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. As a group, equities 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. Roth Mkm decreased 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 report on Friday, May 2nd. Susquehanna started coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $155.00 target price on the stock. Morgan Stanley boosted their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Rosenblatt Securities decreased their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Macquarie boosted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $162.07.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.