Cantillon Capital Management LLC Sells 81,487 Shares of Live Nation Entertainment, Inc. $LYV

Cantillon Capital Management LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,806,585 shares of the company’s stock after selling 81,487 shares during the quarter. Live Nation Entertainment accounts for approximately 2.5% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Cantillon Capital Management LLC’s holdings in Live Nation Entertainment were worth $424,580,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $33,000. N.E.W. Advisory Services LLC bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $42,000. GW&K Investment Management LLC grew its stake in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after purchasing an additional 283 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Live Nation Entertainment by 94.2% during the first quarter. Private Trust Co. NA now owns 404 shares of the company’s stock valued at $53,000 after purchasing an additional 196 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LYV has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Live Nation Entertainment in a research note on Wednesday, October 8th. Rothschild & Co Redburn cut shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating and raised their price objective for the company from $144.00 to $170.00 in a research note on Tuesday, September 16th. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, July 24th. Moffett Nathanson initiated coverage on shares of Live Nation Entertainment in a research note on Monday, August 18th. They issued a “buy” rating and a $195.00 price objective on the stock. Finally, Citigroup raised 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 note on Tuesday, September 9th. Eighteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $171.42.

Live Nation Entertainment Stock Up 0.3%

Shares of LYV stock opened at $157.18 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 1 year low of $112.88 and a 1 year high of $175.25. The firm’s fifty day moving average price is $162.25 and its two-hundred day moving average price is $148.96. The firm has a market capitalization of $36.85 billion, a P/E ratio of 68.04, a PEG ratio of 12.24 and a beta of 1.40.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results 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). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The business had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 16.3% on a year-over-year basis. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.