Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 41.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,428 shares of the company’s stock after selling 18,609 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Live Nation Entertainment were worth $3,422,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. ValueAct Holdings L.P. acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at $111,094,000. PointState Capital LP acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after acquiring an additional 385,143 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Live Nation Entertainment by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after acquiring an additional 321,832 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $154.59 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $35.92 billion, a price-to-earnings ratio of 56.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The business has a 50 day simple moving average of $139.57 and a 200-day simple moving average of $123.19.

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

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Guggenheim lifted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. TD Cowen upped their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer lifted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

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.