Raymond James Financial Inc. Sells 12,544 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Raymond James Financial Inc. sold 12,544 shares of Live Nation Entertainment, reducing its stake by 5.9%, leaving them with 199,521 shares valued at approximately $26 million.
• Live Nation missed earnings expectations with a reported $0.41 EPS for the quarter, falling short of the $1.08 consensus estimate, despite achieving a revenue of $7.01 billion, exceeding predictions.
• Investment analysts maintain a consensus "Buy" rating on Live Nation stock with an average target price of $168.94, reflecting investor confidence in the company's growth potential.

Raymond James Financial Inc. reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,521 shares of the company's stock after selling 12,544 shares during the quarter. Raymond James Financial Inc. owned approximately 0.09% of Live Nation Entertainment worth $26,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth $33,000. GW&K Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after buying an additional 283 shares in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth $42,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.2%

NYSE LYV opened at $166.0920 on Tuesday. The company's 50-day moving average price is $151.79 and its 200-day moving average price is $141.28. 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 market cap of $38.94 billion, a PE ratio of 71.90, a PEG ratio of 10.00 and a beta of 1.46. Live Nation Entertainment, Inc. has a 12 month low of $92.57 and a 12 month high of $166.57.

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

Analysts Set New Price Targets

Several research firms have recently commented on LYV. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 target price on the stock. Roth Mkm decreased their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Wolfe Research upped their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Eighteen investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $168.94.

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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