Phoenix Financial Ltd. Sells 8,258 Shares of Live Nation Entertainment, Inc. $LYV

Phoenix Financial Ltd. decreased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 26.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,100 shares of the company’s stock after selling 8,258 shares during the quarter. Phoenix Financial Ltd.’s holdings in Live Nation Entertainment were worth $3,775,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EFG Asset Management North America Corp. bought a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $1,191,000. Vanguard Personalized Indexing Management LLC grew its stake in Live Nation Entertainment by 2.4% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 17,587 shares of the company’s stock worth $2,875,000 after buying an additional 407 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Live Nation Entertainment by 297.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 24,743 shares of the company’s stock valued at $4,043,000 after buying an additional 18,521 shares during the period. UniSuper Management Pty Ltd raised its position in shares of Live Nation Entertainment by 4.0% in the 3rd quarter. UniSuper Management Pty Ltd now owns 18,772 shares of the company’s stock valued at $3,067,000 after buying an additional 726 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Live Nation Entertainment by 25.8% during the 3rd quarter. Covestor Ltd now owns 839 shares of the company’s stock worth $138,000 after acquiring an additional 172 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on LYV. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research report on Friday, January 2nd. Moffett Nathanson lowered their price target on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Guggenheim reduced their price target on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating on the stock in a research note on Wednesday, January 14th. Finally, Jefferies Financial Group downgraded shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and dropped their price objective for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average target price of $172.55.

Live Nation Entertainment Stock Down 0.7%

NYSE:LYV opened at $146.82 on Wednesday. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25. The firm’s 50 day simple moving average is $140.34 and its 200 day simple moving average is $150.29. The company has a market cap of $34.46 billion, a PE ratio of 106.39, a P/E/G ratio of 9.72 and a beta of 1.20.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. Live Nation Entertainment had a net margin of 3.66% and a return on equity of 97.90%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.