Live Nation Entertainment, Inc. $LYV Shares Sold by Baskin Financial Services Inc.

Baskin Financial Services Inc. trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 320,310 shares of the company’s stock after selling 1,250 shares during the quarter. Live Nation Entertainment comprises approximately 3.7% of Baskin Financial Services Inc.’s portfolio, making the stock its 12th biggest position. Baskin Financial Services Inc. owned approximately 0.14% of Live Nation Entertainment worth $48,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Nuveen LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at approximately $201,501,000. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after acquiring an additional 1,004,574 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Live Nation Entertainment by 46.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock valued at $366,195,000 after acquiring an additional 884,745 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $128,704,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Live Nation Entertainment by 83.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,588,983 shares of the company’s stock valued at $207,490,000 after acquiring an additional 723,112 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 1.7%

NYSE:LYV opened at $152.54 on Friday. 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 stock has a market capitalization of $35.77 billion, a price-to-earnings ratio of 66.03, a PEG ratio of 9.91 and a beta of 1.40. Live Nation Entertainment, Inc. has a 1 year low of $111.83 and a 1 year high of $175.25. The stock has a fifty day moving average price of $161.78 and a two-hundred day moving average price of $147.36.

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

Analyst Ratings Changes

LYV has been the subject of several research analyst reports. Rothschild Redb downgraded Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Oppenheimer increased their price objective on Live Nation Entertainment from $165.00 to $180.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Moffett Nathanson assumed coverage on Live Nation Entertainment in a research note on Monday, August 18th. They set a “buy” rating and a $195.00 price target for the company. Guggenheim restated a “buy” rating and set a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Eighteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $171.42.

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.