Strs Ohio Sells 9,826 Shares of Live Nation Entertainment, Inc. $LYV

Strs Ohio reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 26.5% in the third quarter, HoldingsChannel.com reports. The firm owned 27,284 shares of the company’s stock after selling 9,826 shares during the period. Strs Ohio’s holdings in Live Nation Entertainment were worth $4,458,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of LYV. Seven Grand Managers LLC purchased a new stake in shares of Live Nation Entertainment during the second quarter worth about $22,692,000. WT Wealth Management purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at approximately $1,753,000. Signaturefd LLC lifted its holdings in shares of Live Nation Entertainment by 25.3% in the second quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock worth $203,000 after buying an additional 271 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Live Nation Entertainment by 44.0% during the second quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock worth $3,407,000 after acquiring an additional 7,322 shares during the last quarter. Finally, L2 Asset Management LLC increased its holdings in Live Nation Entertainment by 224.9% in the 2nd quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock valued at $3,109,000 after acquiring an additional 14,224 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LYV. Citigroup cut their price objective on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Zacks Research cut Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Evercore ISI upped their price objective on Live Nation Entertainment from $168.00 to $188.00 and gave the stock an “outperform” rating in a report on Tuesday, December 23rd. Moffett Nathanson cut their target price on shares of Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, UBS Group assumed coverage on shares of Live Nation Entertainment in a research report on Tuesday, November 25th. They issued a “buy” rating and a $164.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $172.55.

Live Nation Entertainment Trading Up 0.5%

Shares of LYV opened at $147.69 on Tuesday. The company’s fifty day simple moving average is $140.03 and its 200-day simple moving average is $150.27. The company has a market cap of $34.67 billion, a P/E ratio of 107.02, a P/E/G ratio of 9.66 and a beta of 1.20. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 5.41. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.66 earnings per share. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Live Nation Entertainment Profile

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.