Envestnet Portfolio Solutions Inc. Sells 5,141 Shares of Live Nation Entertainment, Inc. $LYV

Envestnet Portfolio Solutions Inc. trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 53.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,449 shares of the company’s stock after selling 5,141 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Live Nation Entertainment were worth $673,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. acquired a new stake in Live Nation Entertainment during the 1st quarter worth approximately $1,153,000. Stratos Wealth Partners LTD. acquired a new position in shares of Live Nation Entertainment during the first quarter worth $272,000. Teacher Retirement System of Texas bought a new stake in shares of Live Nation Entertainment in the first quarter worth $3,081,000. Personal CFO Solutions LLC acquired a new stake in Live Nation Entertainment in the first quarter valued at $277,000. Finally, Highland Capital Management LLC bought a new position in Live Nation Entertainment during the 1st quarter worth $1,170,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LYV shares. Benchmark raised their price objective on Live Nation Entertainment from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Citigroup raised their price target on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. Rothschild Redb lowered shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Finally, Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.42.

Live Nation Entertainment Trading Up 1.0%

Shares of LYV stock opened at $156.68 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The firm has a market cap of $36.74 billion, a P/E ratio of 67.83, a PEG ratio of 12.11 and a beta of 1.40. The company has a 50 day moving average of $162.28 and a 200-day moving average of $148.91. Live Nation Entertainment, Inc. has a 12-month low of $112.88 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company posted $1.03 earnings per share. Live Nation Entertainment’s revenue for the quarter was up 16.3% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment 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.