Boston Financial Mangement LLC Decreases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Financial Mangement LLC reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 18,715 shares of the company’s stock after selling 465 shares during the period. Boston Financial Mangement LLC’s holdings in Live Nation Entertainment were worth $2,424,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Handelsbanken Fonder AB lifted its stake in shares of Live Nation Entertainment by 24.7% during the 4th quarter. Handelsbanken Fonder AB now owns 3,807 shares of the company’s stock worth $493,000 after purchasing an additional 755 shares during the last quarter. Plan Group Financial LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at about $210,000. Atria Wealth Solutions Inc. purchased a new stake in Live Nation Entertainment in the fourth quarter valued at about $226,000. Pinnbrook Capital Management LP purchased a new stake in Live Nation Entertainment in the fourth quarter valued at about $8,222,000. Finally, CIBC Asset Management Inc raised its stake in Live Nation Entertainment by 4.7% in the fourth quarter. CIBC Asset Management Inc now owns 26,093 shares of the company’s stock valued at $3,379,000 after buying an additional 1,177 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.9 %

LYV opened at $152.21 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $155.10. The stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 161.93, a PEG ratio of 1.79 and a beta of 1.38. 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 fifty day moving average price of $138.96 and a 200 day moving average price of $121.87.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on LYV. Evercore ISI increased their price target on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Roth Mkm raised their price objective on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Oppenheimer raised their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Macquarie lifted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.47.

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.