Teamwork Financial Advisors LLC Reduces Stake in Live Nation Entertainment, Inc. $LYV

Key Points

• Teamwork Financial Advisors cut its stake in Live Nation by 96.3% in Q4, selling 70,690 shares and finishing the quarter with 2,726 shares worth about $388,000.
• Director Jeffrey T. Hinson sold 944 shares on March 10 at an average price of $165.87, a 1.93% reduction in his holdings, and corporate insiders now own 2.72% of the company.
• Wall Street is broadly positive with a consensus rating of "Moderate Buy" and an average target of $184.40, even as Live Nation shows a negative P/E (-620.79) and a high debt-to-equity ratio (8.51).

Teamwork Financial Advisors LLC lowered its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 96.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,726 shares of the company's stock after selling 70,690 shares during the period. Teamwork Financial Advisors LLC's holdings in Live Nation Entertainment were worth $388,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LYV. Principal Financial Group Inc. lifted its position in shares of Live Nation Entertainment by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company's stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Live Nation Entertainment in the 3rd quarter valued at about $1,606,000. Profund Advisors LLC raised its stake in Live Nation Entertainment by 51.1% in the 3rd quarter. Profund Advisors LLC now owns 11,141 shares of the company's stock valued at $1,820,000 after acquiring an additional 3,767 shares during the period. EFG Asset Management North America Corp. purchased a new stake in Live Nation Entertainment during the third quarter valued at about $1,191,000. Finally, J. Safra Sarasin Holding AG bought a new position in Live Nation Entertainment during the third quarter worth about $2,015,000. Institutional investors own 74.52% of the company's stock.

Insider Transactions at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the transaction, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $148.99 on Monday. Live Nation Entertainment, Inc. has a 1-year low of $113.20 and a 1-year high of $175.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. The firm has a market capitalization of $34.98 billion, a PE ratio of -620.79 and a beta of 1.11. The firm's 50 day simple moving average is $152.25 and its 200 day simple moving average is $149.81.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Oppenheimer reiterated an "outperform" rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Roth Mkm reissued a "buy" rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Morgan Stanley reaffirmed an "overweight" rating and issued a $185.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Moffett Nathanson reduced their price target on Live Nation Entertainment from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $184.40.

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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