UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 312,412 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• UBS AM reduced its holdings in Live Nation Entertainment by 29.1%, selling 312,412 shares during the 1st quarter, leaving them with approximately 0.33% of the company's stock valued at $99.57 million.
• Live Nation reported earnings per share of $0.41 for the last quarter, missing estimates by $0.67, but its revenue of $7.01 billion exceeded expectations of $6.93 billion.
• Analysts have a positive outlook for Live Nation's stock, with 18 "buy" ratings and an average price target of $170.72.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 762,479 shares of the company's stock after selling 312,412 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.33% of Live Nation Entertainment worth $99,565,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of LYV. Nuveen LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth approximately $201,501,000. Independent Franchise Partners LLP boosted its position in shares of Live Nation Entertainment by 21.4% in the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after purchasing an additional 1,004,574 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Live Nation Entertainment by 46.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Live Nation Entertainment by 83.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company's stock worth $207,490,000 after purchasing an additional 723,112 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company's stock worth $2,596,305,000 after purchasing an additional 713,020 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Down 0.2%

Shares of LYV stock opened at $173.75 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $97.40 and a 1 year high of $175.25. The firm has a fifty day moving average price of $157.02 and a 200-day moving average price of $143.01. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $40.74 billion, a price-to-earnings ratio of 75.22, a PEG ratio of 11.74 and a beta of 1.42.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wolfe Research boosted their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a "buy" rating and a $195.00 price objective for the company. Benchmark boosted their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a report on Thursday, July 24th. Eighteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $170.72.

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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