Mutual of America Capital Management LLC Sells 162 Shares of Live Nation Entertainment, Inc. $LYV

Mutual of America Capital Management LLC reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,071 shares of the company’s stock after selling 162 shares during the period. Mutual of America Capital Management LLC’s holdings in Live Nation Entertainment were worth $2,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new stake in Live Nation Entertainment in the 1st quarter valued at $1,153,000. Stratos Wealth Partners LTD. bought a new stake in Live Nation Entertainment in the 1st quarter valued at $272,000. Teacher Retirement System of Texas bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth about $3,081,000. Personal CFO Solutions LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth about $277,000. Finally, Highland Capital Management LLC bought a new stake in shares of Live Nation Entertainment in the 1st quarter worth about $1,170,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $152.98 on Friday. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 66.23, a price-to-earnings-growth ratio of 12.20 and a beta of 1.40. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The firm has a 50-day moving average of $161.87 and a two-hundred day moving average of $149.48.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on LYV shares. Citigroup reduced their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday. Rothschild Redb downgraded shares of Live Nation Entertainment from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 16th. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a report on Thursday, July 24th. Finally, The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $168.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.89.

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.