Live Nation Entertainment, Inc. $LYV Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,524 shares of the company’s stock after selling 69 shares during the quarter. Hartford Investment Management Co.’s holdings in Live Nation Entertainment were worth $1,441,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Live Nation Entertainment by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,882,872 shares of the company’s stock valued at $2,596,305,000 after purchasing an additional 713,020 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Live Nation Entertainment by 4.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 9,029,939 shares of the company’s stock valued at $1,179,129,000 after buying an additional 379,924 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,596,509 shares of the company’s stock valued at $991,952,000 after buying an additional 294,310 shares during the last quarter. Independent Franchise Partners LLP grew its position in shares of Live Nation Entertainment by 21.4% during the 1st quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company’s stock valued at $744,118,000 after buying an additional 1,004,574 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company’s stock valued at $366,195,000 after buying an additional 884,745 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LYV. Rothschild & Co Redburn downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $144.00 to $170.00 in a research report on Tuesday, September 16th. Citigroup boosted their price objective on shares of Live Nation Entertainment from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 target price for the company. Finally, Guggenheim restated a “buy” rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Eighteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average target price of $171.21.

Live Nation Entertainment Trading Up 0.0%

Live Nation Entertainment stock opened at $162.02 on Friday. The firm has a 50 day simple moving average of $160.79 and a 200-day simple moving average of $145.30. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $37.99 billion, a PE ratio of 70.14, a price-to-earnings-growth ratio of 10.91 and a beta of 1.42. Live Nation Entertainment, Inc. has a 12-month low of $107.14 and a 12-month high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business earned $1.03 earnings per share. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal 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.