State of Wyoming Sells 3,598 Shares of Live Nation Entertainment, Inc. $LYV

State of Wyoming trimmed its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 49.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,617 shares of the company’s stock after selling 3,598 shares during the period. State of Wyoming’s holdings in Live Nation Entertainment were worth $612,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE bought a new stake in Live Nation Entertainment in the 2nd quarter valued at $1,221,398,000. Canada Pension Plan Investment Board bought a new position in shares of Live Nation Entertainment in the second quarter valued at $859,018,000. Findlay Park Partners LLP bought a new position in shares of Live Nation Entertainment in the 2nd quarter valued at about $195,781,000. OMERS ADMINISTRATION Corp increased its position in Live Nation Entertainment by 5,799.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 900,794 shares of the company’s stock worth $137,380,000 after buying an additional 885,524 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Live Nation Entertainment during the 2nd quarter worth approximately $140,911,000. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on LYV shares. TD Cowen reiterated a “buy” rating on shares of Live Nation Entertainment in a report on Monday, August 3rd. Guggenheim raised their target price on shares of Live Nation Entertainment from $197.00 to $218.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “market outperform” rating on shares of Live Nation Entertainment in a report on Thursday, October 1st. Citizens Jmp upped their price target on shares of Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 22nd. Finally, BTIG Research reissued a “buy” rating and issued a $215.00 price target on shares of Live Nation Entertainment in a report on Monday, October 19th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.95.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $177.78 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 8.25. The company has a market capitalization of $41.89 billion, a P/E ratio of -157.33 and a beta of 1.15. Live Nation Entertainment, Inc. has a 12-month low of $125.34 and a 12-month high of $189.24. The firm has a 50-day moving average price of $173.25 and a two-hundred day moving average price of $166.55.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current year.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the sale, the chief accounting officer owned 8,655 shares of the company’s stock, valued at $1,592,520. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.