Pine Valley Investments Ltd Liability Co Cuts Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Pine Valley Investments Ltd Liability Co reduced its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 41.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,428 shares of the company’s stock after selling 18,609 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Live Nation Entertainment were worth $3,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the third quarter worth about $31,000. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth approximately $41,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in Live Nation Entertainment during the fourth quarter worth $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $154.59 on Tuesday. The stock has a fifty day moving average price of $139.57 and a 200 day moving average price of $123.19. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The firm has a market capitalization of $35.92 billion, a P/E ratio of 56.84, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of research analyst reports. TD Cowen raised their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Citigroup raised their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Morgan Stanley upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.