Phoenix Financial Ltd. Sells 3,569 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Phoenix Financial Ltd. has reduced its position in Live Nation Entertainment by 10.2%, selling 3,569 shares, which leaves the firm with 31,358 shares valued at approximately $4.74 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Live Nation, with an average price target of $171.42, following recent adjustments from various analysts, including Goldman Sachs and Rothschild & Co.
• Live Nation reported $7.01 billion in revenue for the last quarter, exceeding estimates, although it missed EPS expectations at $0.41 compared to the consensus of $1.08.

Phoenix Financial Ltd. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,358 shares of the company's stock after selling 3,569 shares during the period. Phoenix Financial Ltd.'s holdings in Live Nation Entertainment were worth $4,744,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC raised its stake in shares of Live Nation Entertainment by 2.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 2,828 shares of the company's stock worth $428,000 after buying an additional 69 shares during the last quarter. Gilbert & Cook Inc. boosted its holdings in Live Nation Entertainment by 1.4% during the first quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock worth $723,000 after buying an additional 75 shares during the last quarter. Central Pacific Bank Trust Division grew its position in shares of Live Nation Entertainment by 1.8% during the 2nd quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company's stock worth $835,000 after buying an additional 97 shares during the period. Trust Asset Management LLC increased its stake in shares of Live Nation Entertainment by 5.8% in the 1st quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock valued at $233,000 after acquiring an additional 98 shares during the last quarter. Finally, Callan Family Office LLC increased its stake in Live Nation Entertainment by 1.8% in the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock valued at $732,000 after purchasing an additional 98 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the topic of several research analyst reports. Rothschild Redb downgraded Live Nation Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 16th. Rothschild & Co Redburn cut Live Nation Entertainment from a "buy" rating to a "neutral" rating and increased their target price for the stock from $144.00 to $170.00 in a report on Tuesday, September 16th. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Finally, Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a report on Thursday, July 24th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $171.42.

Live Nation Entertainment Trading Up 0.3%

NYSE LYV opened at $157.18 on Wednesday. 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 stock has a 50 day moving average of $162.25 and a 200-day moving average of $148.96. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25. The company has a market cap of $36.85 billion, a PE ratio of 68.04, a PEG ratio of 12.24 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business's revenue was up 16.3% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

About Live Nation Entertainment

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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