Apollon Wealth Management LLC Sells 348 Shares of Live Nation Entertainment, Inc. $LYV

Apollon Wealth Management LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 11.7% in the second quarter, HoldingsChannel.com reports. The firm owned 2,620 shares of the company’s stock after selling 348 shares during the period. Apollon Wealth Management LLC’s holdings in Live Nation Entertainment were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYV. Wayfinding Financial LLC bought a new position in Live Nation Entertainment during the 1st quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the first quarter worth about $33,000. GW&K Investment Management LLC raised its stake in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock worth $42,000 after buying an additional 283 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Live Nation Entertainment during the 1st quarter worth approximately $42,000. Finally, Private Trust Co. NA grew its holdings in shares of Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company’s stock worth $53,000 after acquiring an additional 196 shares during the period. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 2.3%

Live Nation Entertainment stock opened at $155.15 on Friday. The firm has a market cap of $36.38 billion, a price-to-earnings ratio of 67.17, a PEG ratio of 11.64 and a beta of 1.40. The stock has a fifty day simple moving average of $162.24 and a two-hundred day simple moving average of $148.40. Live Nation Entertainment, Inc. has a 12 month low of $112.88 and a 12 month high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS 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 business had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.03 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis. Equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the topic of several research reports. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $168.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Rothschild & Co Redburn lowered Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Oppenheimer increased their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Finally, Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective on the stock. Eighteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $171.42.

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.