Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,700 shares of the company's stock after selling 6,000 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Live Nation Entertainment were worth $7,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi increased its holdings in shares of Live Nation Entertainment by 3.7% in the 4th quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after acquiring an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $226,000. Aviva PLC increased its stake in Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company's stock valued at $12,569,000 after buying an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company's stock worth $132,088,000 after purchasing an additional 48,949 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LYV has been the subject of several recent analyst reports. Bank of America raised their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday. Macquarie increased their price target 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. Wolfe Research increased their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Roth Mkm cut 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. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Live Nation Entertainment Trading Up 1.7%

Shares of Live Nation Entertainment stock traded up $2.54 during mid-day trading on Wednesday, hitting $148.13. 3,994,892 shares of the stock were exchanged, compared to its average volume of 2,332,474. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 5.77 and a beta of 1.44. The company has a 50-day simple moving average of $137.36 and a 200 day simple moving average of $135.87. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm 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 125.77% and a net margin of 4.28%. Live Nation Entertainment's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.