Bank Julius Baer & Co. Ltd Zurich Sells 5,690 Shares of Live Nation Entertainment, Inc. $LYV

Bank Julius Baer & Co. Ltd Zurich lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,449 shares of the company’s stock after selling 5,690 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Live Nation Entertainment were worth $7,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vident Advisory LLC boosted its holdings in shares of Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. increased its holdings in Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after purchasing an additional 80 shares during the period. Ameriflex Group Inc. raised its position in Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. GW&K Investment Management LLC lifted its holdings in Live Nation Entertainment by 22.2% in the 3rd quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock worth $76,000 after buying an additional 85 shares during the period. Finally, Alteri Wealth LLC grew its position in shares of Live Nation Entertainment by 5.1% in the 3rd quarter. Alteri Wealth LLC now owns 1,841 shares of the company’s stock worth $301,000 after buying an additional 89 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 0.9%

Shares of NYSE:LYV opened at $169.97 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The stock has a fifty day simple moving average of $158.15 and a two-hundred day simple moving average of $149.08. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $175.25. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of -96.03 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. Live Nation Entertainment’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,776 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Hopmans sold 93,078 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 157,798 shares of company stock valued at $26,088,615. Insiders own 2.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LYV. Guggenheim upped their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. Roth Mkm restated a “buy” rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Oppenheimer reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Finally, Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $187.75.

Live Nation Entertainment Company 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.