Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 67.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,740 shares of the company’s stock after selling 46,665 shares during the quarter. Mackenzie Financial Corp’s holdings in Live Nation Entertainment were worth $2,128,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LYV. CWM LLC raised its holdings in shares of Live Nation Entertainment by 14.5% in the 3rd quarter. CWM LLC now owns 1,948 shares of the company’s stock worth $162,000 after purchasing an additional 246 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth about $236,000. Caprock Group LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $221,000. Oak Thistle LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $866,000. Finally, WASHINGTON TRUST Co raised its holdings in shares of Live Nation Entertainment by 3.2% during the 3rd quarter. WASHINGTON TRUST Co now owns 125,432 shares of the company’s stock valued at $10,416,000 after buying an additional 3,896 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

LYV has been the topic of several analyst reports. Roth Capital upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Oppenheimer raised their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Rosenblatt Securities dropped their target price on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a report on Thursday, April 11th. Morgan Stanley raised their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, TD Cowen restated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.30.

Live Nation Entertainment Price Performance

Shares of LYV opened at $90.08 on Wednesday. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 67.73 and a beta of 1.30. The stock has a 50 day moving average of $99.04 and a 200-day moving average of $91.54. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment, Inc. has a 52 week low of $64.96 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Live Nation Entertainment Company 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.