Schroder Investment Management Group Decreases Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Schroder Investment Management trimmed its stake in Live Nation by 9.3% in Q3, selling 30,100 shares and now holds 294,948 shares valued at about $48.20 million.
• Live Nation missed EPS expectations (reported ($1.06) vs. ($1.00) expected) but beat revenue estimates with $6.31 billion, up 11.1% year-over-year.
• Analyst sentiment is largely positive: the stock carries an average rating of "Moderate Buy" with a consensus target of $183.65 and several firms recently raising or reiterating price targets.

Schroder Investment Management Group lessened its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 294,948 shares of the company's stock after selling 30,100 shares during the period. Schroder Investment Management Group owned 0.13% of Live Nation Entertainment worth $48,195,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC raised its stake in Live Nation Entertainment by 469.0% in the 2nd quarter. Clearstead Trust LLC now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Ameriflex Group Inc. raised its position in shares of Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Live Nation Entertainment in the third quarter worth about $33,000. Heartwood Wealth Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter worth about $34,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.2%

Shares of NYSE:LYV opened at $165.47 on Wednesday. The company has a market capitalization of $38.85 billion, a price-to-earnings ratio of -689.45 and a beta of 1.11. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25. The business has a 50-day moving average price of $150.37 and a 200 day moving average price of $150.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.12 billion. During the same period last year, the firm posted $0.58 earnings per share. Live Nation Entertainment's revenue was up 11.1% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LYV shares. TD Cowen reissued a "buy" rating on shares of Live Nation Entertainment in a research note on Monday, February 23rd. UBS Group increased their price target on Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Benchmark reaffirmed a "buy" rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $175.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $183.65.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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