Profund Advisors LLC Sells 3,562 Shares of Live Nation Entertainment, Inc. $LYV

Profund Advisors LLC trimmed its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 32.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,374 shares of the company’s stock after selling 3,562 shares during the period. Profund Advisors LLC’s holdings in Live Nation Entertainment were worth $1,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LYV. Stratos Wealth Partners LTD. bought a new position in shares of Live Nation Entertainment during the 1st quarter valued at $272,000. Massachusetts Financial Services Co. MA boosted its position in Live Nation Entertainment by 46.1% during the first 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 period. Atria Wealth Solutions Inc. grew its stake in shares of Live Nation Entertainment by 108.1% during the first quarter. Atria Wealth Solutions Inc. now owns 3,635 shares of the company’s stock valued at $475,000 after buying an additional 1,888 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 6,183.8% in the first quarter. Baird Financial Group Inc. now owns 167,464 shares of the company’s stock worth $21,867,000 after buying an additional 164,799 shares during the period. Finally, Aberdeen Group plc lifted its stake in shares of Live Nation Entertainment by 3.9% in the 2nd quarter. Aberdeen Group plc now owns 93,543 shares of the company’s stock valued at $14,151,000 after acquiring an additional 3,542 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $141.98 on Wednesday. The firm has a market capitalization of $33.33 billion, a price-to-earnings ratio of 61.46, a PEG ratio of 12.85 and a beta of 1.37. The stock has a fifty day moving average of $157.32 and a 200 day moving average of $151.39. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 EPS for the quarter, missing the consensus estimate of $1.54 by ($0.81). The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.66 earnings per share. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYV. Susquehanna raised their price target on Live Nation Entertainment from $174.00 to $175.00 and gave the stock a “positive” rating in a research report on Monday, November 3rd. Evercore ISI dropped their price objective on Live Nation Entertainment from $180.00 to $168.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Oppenheimer lifted their target price on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Live Nation Entertainment in a report on Wednesday, October 8th. Finally, Moffett Nathanson began coverage on shares of Live Nation Entertainment in a report on Monday, August 18th. They issued a “buy” rating and a $195.00 price target on the stock. Eighteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.84.

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.