CIBC Private Wealth Group LLC Sells 5,256 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

CIBC Private Wealth Group LLC lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,971 shares of the company’s stock after selling 5,256 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Live Nation Entertainment were worth $21,106,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LYV. Smartleaf Asset Management LLC grew its holdings in Live Nation Entertainment by 17.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after acquiring an additional 75 shares during the period. SOA Wealth Advisors LLC. boosted its position in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the last quarter. Western Pacific Wealth Management LP grew its stake in shares of Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after purchasing an additional 82 shares during the period. UMB Bank n.a. increased its holdings in Live Nation Entertainment by 21.2% in the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after purchasing an additional 93 shares during the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in Live Nation Entertainment by 1.7% during the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last three months. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LYV. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Guggenheim raised their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Macquarie boosted their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Trading Up 4.5 %

NYSE:LYV opened at $130.71 on Tuesday. The company has a market cap of $30.51 billion, a P/E ratio of 48.06, 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 moving average price of $138.04 and a two-hundred day moving average price of $129.07. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping 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 business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.