Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 120,469 shares of the company's stock after selling 2,209 shares during the period. WASHINGTON TRUST Co owned 0.05% of Live Nation Entertainment worth $15,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $226,000. Handelsbanken Fonder AB raised its holdings in Live Nation Entertainment by 24.7% in the fourth quarter. Handelsbanken Fonder AB now owns 3,807 shares of the company's stock valued at $493,000 after buying an additional 755 shares during the period. New York Life Investment Management LLC lifted its position in Live Nation Entertainment by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 21,172 shares of the company's stock valued at $2,742,000 after buying an additional 188 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Live Nation Entertainment during the fourth quarter valued at approximately $8,737,000. Finally, QRG Capital Management Inc. increased its position in shares of Live Nation Entertainment by 4.7% in the fourth quarter. QRG Capital Management Inc. now owns 16,243 shares of the company's stock worth $2,103,000 after acquiring an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock traded up $0.16 on Thursday, hitting $149.27. 925,403 shares of the stock traded hands, compared to its average volume of 2,332,447. The company has a market capitalization of $34.60 billion, a PE ratio of 50.95, a PEG ratio of 5.81 and a beta of 1.45. The company's fifty day moving average is $141.88 and its 200 day moving average is $136.86. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period last year, the firm posted $0.60 earnings per share. The company's quarterly revenue was down 11.0% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Guggenheim restated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Macquarie increased their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Rosenblatt Securities reduced their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Finally, Wolfe Research boosted their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.24.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.01% of the company's stock.

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.