Stephens Investment Management Group LLC Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Stephens Investment Management Group LLC lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 692,387 shares of the company’s stock after selling 9,214 shares during the period. Live Nation Entertainment makes up 1.2% of Stephens Investment Management Group LLC’s portfolio, making the stock its 18th biggest position. Stephens Investment Management Group LLC’s holdings in Live Nation Entertainment were worth $89,664,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Live Nation Entertainment during the third quarter worth $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $42,000. Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $44,000. Independence Bank of Kentucky purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $45,000. Finally, Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target 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. Oppenheimer lifted their price target 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. Macquarie increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Bank of America boosted their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark lifted their price objective on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.40.

Live Nation Entertainment Price Performance

Shares of LYV opened at $148.38 on Friday. The firm has a market capitalization of $34.48 billion, a price-to-earnings ratio of 157.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The stock’s fifty day moving average is $136.12 and its 200-day moving average is $118.42. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $152.11. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

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.