Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Commerce Bank

Commerce Bank reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,941 shares of the company’s stock after selling 1,524 shares during the period. Commerce Bank’s holdings in Live Nation Entertainment were worth $1,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amundi increased its stake in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after buying an additional 39,302 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after purchasing an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in Live Nation Entertainment in the fourth quarter worth about $226,000. Aviva PLC increased its holdings in Live Nation Entertainment by 1,524.1% in the fourth quarter. Aviva PLC now owns 97,057 shares of the company’s stock valued at $12,569,000 after buying an additional 91,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Live Nation Entertainment by 5.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after buying an additional 48,949 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV opened at $123.67 on Tuesday. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day moving average price of $131.99 and a two-hundred day moving average price of $131.33. The company has a market capitalization of $28.86 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Benchmark restated a “buy” rating and issued a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Insider Activity at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last ninety days. Insiders own 2.72% of the company’s stock.

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.