Amalgamated Bank Sells 800 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Amalgamated Bank trimmed its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,904 shares of the company’s stock after selling 800 shares during the quarter. Amalgamated Bank’s holdings in Live Nation Entertainment were worth $4,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. bought a new stake in Live Nation Entertainment during the 1st quarter worth approximately $48,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Live Nation Entertainment by 25.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,323 shares of the company’s stock worth $2,980,000 after acquiring an additional 5,182 shares during the last quarter. M Holdings Securities Inc. bought a new stake in Live Nation Entertainment during the 1st quarter worth approximately $1,798,000. Neuberger Berman Group LLC grew its holdings in Live Nation Entertainment by 839.1% during the 1st quarter. Neuberger Berman Group LLC now owns 316,141 shares of the company’s stock worth $37,192,000 after acquiring an additional 282,478 shares during the last quarter. Finally, Sculptor Capital LP bought a new stake in shares of Live Nation Entertainment in the 1st quarter valued at $23,162,000. 71.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of analyst reports. Citigroup upped their price objective on shares of Live Nation Entertainment from $93.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. TheStreet raised shares of Live Nation Entertainment from a “d+” rating to a “c-” rating in a research note on Wednesday, August 10th. Benchmark upped their price objective on shares of Live Nation Entertainment to $140.00 in a research note on Monday, August 15th. Wolfe Research reduced their price objective on shares of Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Finally, Macquarie raised shares of Live Nation Entertainment from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $117.00 to $105.00 in a research note on Tuesday, July 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.10.

Live Nation Entertainment Stock Performance

LYV opened at $81.55 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 146.87. The company’s fifty day moving average price is $92.41 and its two-hundred day moving average price is $96.46. Live Nation Entertainment, Inc. has a 1-year low of $79.50 and a 1-year high of $127.75. The company has a market cap of $18.75 billion, a price-to-earnings ratio of -163.10 and a beta of 1.32.

Live Nation Entertainment (NYSE:LYVGet Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company posted ($0.90) EPS. The business’s quarterly revenue was up 669.9% on a year-over-year basis. On average, analysts expect that Live Nation Entertainment, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $99.42, for a total value of $49,710.00. Following the completion of the sale, the director now owns 60,531 shares in the company, valued at $6,017,992.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michael Rapino sold 78,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $90.88, for a total value of $7,088,640.00. Following the completion of the sale, the chief executive officer now owns 3,645,273 shares in the company, valued at $331,282,410.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $99.42, for a total transaction of $49,710.00. Following the transaction, the director now owns 60,531 shares of the company’s stock, valued at approximately $6,017,992.02. The disclosure for this sale can be found here. Insiders sold a total of 156,500 shares of company stock worth $14,365,830 over the last quarter. Insiders own 4.01% of the company’s stock.

Live Nation Entertainment Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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