Covestor Ltd Sells 207 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Covestor Ltd trimmed its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 15.2% during the first quarter, HoldingsChannel.com reports. The fund owned 1,157 shares of the company’s stock after selling 207 shares during the quarter. Covestor Ltd’s holdings in Live Nation Entertainment were worth $122,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new stake in Live Nation Entertainment in the first quarter valued at approximately $32,000. Rise Advisors LLC boosted its position in Live Nation Entertainment by 90.3% in the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock valued at $35,000 after buying an additional 159 shares in the last quarter. Lindbrook Capital LLC boosted its position in Live Nation Entertainment by 44.1% in the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock valued at $41,000 after buying an additional 119 shares in the last quarter. Tobam acquired a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $59,000. Finally, SOA Wealth Advisors LLC. boosted its position in Live Nation Entertainment by 238.1% in the first quarter. SOA Wealth Advisors LLC. now owns 852 shares of the company’s stock valued at $90,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.1 %

LYV traded up $0.13 during midday trading on Tuesday, hitting $95.20. The company had a trading volume of 346,299 shares, compared to its average volume of 2,213,555. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 10.83. The stock’s 50 day moving average price is $94.12 and its 200 day moving average price is $94.80. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 90.96, a PEG ratio of 2.11 and a beta of 1.34. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). The business had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.26 billion. Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.25) earnings per share. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a research report on Friday, May 24th. Redburn Atlantic upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $114.00 to $115.00 in a report on Thursday, May 9th. Northcoast Research lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. TD Cowen restated a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.58.

Live Nation Entertainment 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.