KBC Group NV Trims Holdings in Live Nation Entertainment, Inc. $LYV

KBC Group NV lowered its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,339 shares of the company’s stock after selling 448 shares during the quarter. KBC Group NV’s holdings in Live Nation Entertainment were worth $3,228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its holdings in Live Nation Entertainment by 690.2% in the first quarter. GW&K Investment Management LLC now owns 324 shares of the company’s stock valued at $42,000 after acquiring an additional 283 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Live Nation Entertainment in the 1st quarter worth about $42,000. TD Private Client Wealth LLC bought a new stake in shares of Live Nation Entertainment during the 2nd quarter valued at about $62,000. Allworth Financial LP increased its position in shares of Live Nation Entertainment by 48.8% during the second quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after buying an additional 147 shares during the period. Finally, Brooklyn Investment Group raised its stake in Live Nation Entertainment by 95.3% in the first quarter. Brooklyn Investment Group now owns 617 shares of the company’s stock worth $81,000 after buying an additional 301 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 0.8%

NYSE:LYV opened at $135.78 on Friday. The stock has a market cap of $31.87 billion, a price-to-earnings ratio of 58.78, a PEG ratio of 12.85 and a beta of 1.37. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 5.38. The company’s 50 day moving average price is $155.83 and its 200-day moving average price is $151.37. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%.The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.87 billion. During the same quarter in the previous year, the firm earned $1.66 earnings per share. Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Moffett Nathanson began coverage on Live Nation Entertainment in a report on Monday, August 18th. They set a “buy” rating and a $195.00 target price on the stock. Benchmark reaffirmed a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Wednesday, October 8th. Citigroup dropped their target price on shares of Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Live Nation Entertainment from $175.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Eighteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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.