Pathstone Holdings LLC Sells 2,675 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Pathstone Holdings LLC lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 17.3% in the third quarter, Holdings Channel reports. The fund owned 12,815 shares of the company’s stock after selling 2,675 shares during the quarter. Pathstone Holdings LLC’s holdings in Live Nation Entertainment were worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LYV. Migdal Insurance & Financial Holdings Ltd. increased its position in Live Nation Entertainment by 119.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $41,000. Family Firm Inc. acquired a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at $42,000. Finally, Cromwell Holdings LLC grew its position in Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after acquiring an additional 88 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $139.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $141.18. The company has a fifty day moving average of $118.98 and a 200-day moving average of $103.13. The firm has a market capitalization of $32.47 billion, a P/E ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYV. Macquarie lifted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Citigroup raised their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Benchmark increased their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by company insiders.

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.