Boston Financial Mangement LLC Trims Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Boston Financial Mangement LLC lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 13.8% during the third quarter, Holdings Channel.com reports. The firm owned 19,180 shares of the company’s stock after selling 3,070 shares during the period. Boston Financial Mangement LLC’s holdings in Live Nation Entertainment were worth $2,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cromwell Holdings LLC grew its stake in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after buying an additional 89 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Live Nation Entertainment by 1.4% in the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after buying an additional 95 shares in the last quarter. Mystic Asset Management Inc. grew its stake in shares of Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after buying an additional 110 shares in the last quarter. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of Live Nation Entertainment by 3.2% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.3 %

NYSE:LYV opened at $118.81 on Wednesday. The stock has a 50-day simple moving average of $105.78 and a 200-day simple moving average of $97.83. The stock has a market cap of $27.36 billion, a P/E ratio of 112.08, a P/E/G ratio of 2.78 and a beta of 1.35. Live Nation Entertainment, Inc. has a 1 year low of $77.30 and a 1 year high of $119.40. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 1.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Benchmark reissued a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Macquarie boosted their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Roth Mkm boosted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Insider Activity

In other news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 177,000 shares of company stock valued at $17,238,181. Insiders own 2.72% of the company’s stock.

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.