Harbour Investments Inc. Sells 162 Shares of Live Nation Entertainment, Inc. $LYV

Harbour Investments Inc. trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 34.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 315 shares of the company’s stock after selling 162 shares during the period. Harbour Investments Inc.’s holdings in Live Nation Entertainment were worth $48,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LYV. Wayfinding Financial LLC bought a new position in Live Nation Entertainment during the 1st quarter valued at about $30,000. Chilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $33,000. GW&K Investment Management LLC boosted its stake in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after purchasing an additional 283 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $42,000. Finally, Private Trust Co. NA boosted its stake in shares of Live Nation Entertainment by 94.2% during the first quarter. Private Trust Co. NA now owns 404 shares of the company’s stock valued at $53,000 after purchasing an additional 196 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Benchmark boosted their target price on shares of Live Nation Entertainment from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday. Moffett Nathanson assumed coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 target price for the company. 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. Finally, Oppenheimer upped their price objective 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. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $171.89.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock opened at $152.98 on Friday. The company has a market capitalization of $35.87 billion, a PE ratio of 66.23, a P/E/G ratio of 12.20 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.88 and a current ratio of 0.88. The company has a 50-day simple moving average of $161.87 and a two-hundred day simple moving average of $149.48. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.