Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Westpac Banking Corp

Westpac Banking Corp lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,313 shares of the company’s stock after selling 556 shares during the period. Westpac Banking Corp’s holdings in Live Nation Entertainment were worth $300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after buying an additional 75 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Live Nation Entertainment by 19.0% during the fourth 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 period. Western Pacific Wealth Management LP lifted its holdings 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 valued at $112,000 after purchasing an additional 82 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Live Nation Entertainment by 21.2% in the 4th 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 period. Finally, Gilbert & Cook Inc. raised its holdings in Live Nation Entertainment by 1.7% during the 4th 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 period. 74.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $174.00 target price on shares of Live Nation Entertainment in a research report on Tuesday. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Morgan Stanley upped their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Live Nation Entertainment Trading Down 4.0 %

Shares of NYSE:LYV opened at $121.00 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $28.24 billion, a PE ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The firm has a fifty day moving average price of $137.16 and a 200 day moving average price of $129.45.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock worth $10,497,143 over the last 90 days. 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.