Stephens Investment Management Group LLC Cuts Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• Stephens Investment Management Group LLC reduced its stake in Live Nation Entertainment by 6.1% during the second quarter, now holding 659,954 shares valued at approximately $99.8 million.
• Analysts have mixed opinions on the stock, with Citigroup raising its target price to $195.00 and Moffett Nathanson starting coverage with a "buy" rating, whereas Rothschild & Co Redburn downgraded it to "neutral."
• Live Nation recently reported earnings of $0.41 per share, missing expectations, despite a revenue increase of 16.3% year-over-year, totaling $7.01 billion.

Stephens Investment Management Group LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 6.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 659,954 shares of the company's stock after selling 42,790 shares during the quarter. Live Nation Entertainment accounts for about 1.3% of Stephens Investment Management Group LLC's portfolio, making the stock its 14th largest position. Stephens Investment Management Group LLC owned 0.28% of Live Nation Entertainment worth $99,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Fifth Third Wealth Advisors LLC increased its position 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 acquiring an additional 69 shares during the period. Gilbert & Cook Inc. increased its position in shares of 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 acquiring an additional 75 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Live Nation Entertainment by 1.8% during the second quarter. Central Pacific Bank Trust Division now owns 5,521 shares of the company's stock worth $835,000 after acquiring an additional 97 shares during the period. Trust Asset Management LLC increased its position in shares of Live Nation Entertainment by 5.8% during the first quarter. Trust Asset Management LLC now owns 1,785 shares of the company's stock worth $233,000 after acquiring an additional 98 shares during the period. Finally, Callan Family Office LLC increased its position in shares of Live Nation Entertainment by 1.8% during the first quarter. Callan Family Office LLC now owns 5,604 shares of the company's stock worth $732,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LYV shares. Citigroup boosted their target price on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $144.00 to $170.00 in a research note on Tuesday, September 16th. Moffett Nathanson started coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a "buy" rating and a $195.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Eighteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $171.42.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $157.18 on Wednesday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The company has a market capitalization of $36.85 billion, a PE ratio of 68.04, a P/E/G ratio of 12.24 and a beta of 1.40. The company has a fifty day moving average of $162.25 and a two-hundred day moving average of $148.96.

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

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