Swiss Life Asset Management Ltd Decreases Position in Live Nation Entertainment, Inc. $LYV

Key Points

• Swiss Life Asset Management cut its stake in Live Nation by 45.9%, selling 23,078 shares and retaining 27,182 shares valued at about $4.44 million after the third quarter.
• Wall Street sentiment is broadly positive with a consensus rating of "Moderate Buy" and a $184.40 consensus price target, as several analysts recently raised ratings and price objectives into the $181–$200 range.
• Live Nation's latest quarter showed a revenue beat ($6.31B vs. $6.12B expected) but an EPS miss (‑$1.06 vs. ‑$1.00), and the stock is trading near $149, below its consensus target and a 52-week high of $175.25.

Swiss Life Asset Management Ltd decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 45.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,182 shares of the company's stock after selling 23,078 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Live Nation Entertainment were worth $4,442,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at $41,000. CIBC Private Wealth Group LLC raised its stake in shares of Live Nation Entertainment by 5.8% in the third quarter. CIBC Private Wealth Group LLC now owns 585,304 shares of the company's stock worth $95,639,000 after purchasing an additional 32,061 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Live Nation Entertainment during the third quarter valued at $19,640,000. WBI Investments LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at $542,000. Finally, Coldstream Capital Management Inc. boosted its position in shares of Live Nation Entertainment by 14.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,736 shares of the company's stock valued at $447,000 after buying an additional 355 shares during the last quarter. Institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of recent analyst reports. Rothschild & Co Redburn raised Live Nation Entertainment from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $166.00 to $193.00 in a research report on Friday, February 27th. Benchmark reiterated a "buy" rating on shares of Live Nation Entertainment in a research note on Thursday, February 19th. Sanford C. Bernstein boosted their price objective on shares of Live Nation Entertainment from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, February 20th. UBS Group increased their price objective on shares of Live Nation Entertainment from $164.00 to $181.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Finally, Wall Street Zen downgraded shares of Live Nation Entertainment from a "hold" rating to a "sell" rating in a research report on Sunday, March 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $184.40.

Live Nation Entertainment Trading Down 3.4%

Live Nation Entertainment stock opened at $148.99 on Monday. Live Nation Entertainment, Inc. has a 52-week low of $113.20 and a 52-week high of $175.25. The company has a market cap of $34.98 billion, a P/E ratio of -620.79 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The business has a 50-day simple moving average of $152.25 and a two-hundred day simple moving average of $149.81.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $6.31 billion during the quarter, compared to analysts' expectations of $6.12 billion. Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.72% of the company's stock.

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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