TD Asset Management Inc Lowers Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• TD Asset Management Inc. cut its Live Nation Entertainment stake by 16.1% in the fourth quarter, selling 59,140 shares and leaving it with 307,997 shares worth about $43.9 million.
• Live Nation reported a wider-than-expected quarterly loss of ($1.85) EPS but beat revenue estimates with $3.79 billion in sales, up 12.1% year over year.
• Analysts remain mostly bullish on LYV, with 20 Buy ratings and an average target price of $187.75, even as recent insider sales topped 157,000 shares over the last 90 days.

TD Asset Management Inc decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,997 shares of the company's stock after selling 59,140 shares during the period. TD Asset Management Inc owned approximately 0.13% of Live Nation Entertainment worth $43,890,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LYV. Leonteq Securities AG purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $26,000. Ameriflex Group Inc. raised its position in Live Nation Entertainment by 102.4% during the third quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after purchasing an additional 84 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in Live Nation Entertainment during the fourth quarter valued at about $30,000. Finally, Blue Trust Inc. raised its position in Live Nation Entertainment by 62.6% during the fourth quarter. Blue Trust Inc. now owns 278 shares of the company's stock valued at $40,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Down 0.5%

NYSE LYV opened at $160.13 on Friday. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $37.72 billion, a PE ratio of -90.47 and a beta of 1.12. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $175.25. The business's 50-day moving average is $160.87 and its 200 day moving average is $151.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LYV. Evercore reaffirmed an "outperform" rating and set a $198.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Weiss Ratings raised Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 9th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $180.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an "overweight" rating and set a $185.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Finally, JPMorgan Chase & Co. raised their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $187.75.

Insider Buying and Selling

In related news, EVP John Hopmans sold 93,078 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares of the company's stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rowles sold 63,776 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the sale, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 157,798 shares of company stock valued at $26,088,615 over the last ninety days. 2.89% of the stock is owned by insiders.

Live Nation Entertainment Company Profile

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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