Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 67.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,740 shares of the company's stock after selling 46,665 shares during the quarter. Mackenzie Financial Corp's holdings in Live Nation Entertainment were worth $2,128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Live Nation Entertainment by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company's stock worth $2,324,000 after buying an additional 117 shares during the period. Hohimer Wealth Management LLC increased its position in Live Nation Entertainment by 1.1% during the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company's stock valued at $956,000 after purchasing an additional 123 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Live Nation Entertainment by 1.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company's stock valued at $1,100,000 after purchasing an additional 130 shares during the period. J.P. Morgan Private Wealth Advisors LLC increased its position in Live Nation Entertainment by 1.1% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company's stock valued at $1,094,000 after purchasing an additional 146 shares during the period. Finally, Raymond James Trust N.A. increased its position in Live Nation Entertainment by 5.9% during the 4th quarter. Raymond James Trust N.A. now owns 2,628 shares of the company's stock valued at $246,000 after purchasing an additional 147 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded down $0.44 during midday trading on Wednesday, hitting $89.65. The stock had a trading volume of 1,344,767 shares, compared to its average volume of 2,283,715. Live Nation Entertainment, Inc. has a 52-week low of $64.96 and a 52-week high of $107.24. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. The company has a market capitalization of $20.69 billion, a PE ratio of 67.41 and a beta of 1.30. The firm's fifty day moving average is $99.05 and its two-hundred day moving average is $91.53.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. Oppenheimer boosted their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Wednesday, February 21st. Roth Capital upgraded shares of Live Nation Entertainment from a "neutral" rating to a "buy" rating in a research note on Thursday, January 11th. Roth Mkm reiterated a "buy" rating and issued a $120.00 price target on shares of Live Nation Entertainment in a research note on Tuesday. Finally, Morgan Stanley upped their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.30.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the company's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the transaction, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.85% of the stock is currently owned by corporate insiders.

About Live Nation Entertainment

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.