Wilmington Savings Fund Society FSB Sells 954 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Wilmington Savings Fund Society FSB trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 20.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,608 shares of the company’s stock after selling 954 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Live Nation Entertainment were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Brooklyn Investment Group acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $42,000. Retirement Wealth Solutions LLC acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $44,000. Independence Bank of Kentucky bought a new position in Live Nation Entertainment in the 4th quarter valued at about $45,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $41,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $146.68 on Wednesday. The company has a market capitalization of $34.08 billion, a PE ratio of 156.04, a P/E/G ratio of 1.73 and a beta of 1.38. 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 stock has a 50-day moving average price of $136.50 and a two-hundred day moving average price of $119.36. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $152.11.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $1.78 EPS. Analysts expect that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Roth Mkm raised their target price on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $145.40.

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.