Russell Investments Group Ltd. Sells 17,869 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Russell Investments Group Ltd. reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 390,556 shares of the company’s stock after selling 17,869 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.17% of Live Nation Entertainment worth $35,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Live Nation Entertainment by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock valued at $2,126,000 after purchasing an additional 1,120 shares during the period. Raymond James Trust N.A. boosted its stake in Live Nation Entertainment by 4.3% in the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock valued at $369,000 after purchasing an additional 130 shares during the period. Cibc World Market Inc. bought a new stake in Live Nation Entertainment in the 1st quarter valued at $421,000. Vontobel Holding Ltd. boosted its stake in Live Nation Entertainment by 31.0% in the 1st quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock valued at $279,000 after purchasing an additional 559 shares during the period. Finally, Prudential PLC bought a new stake in Live Nation Entertainment in the 1st quarter valued at $294,000. 70.95% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 0.6 %

Shares of Live Nation Entertainment stock opened at $89.60 on Friday. Live Nation Entertainment, Inc. has a one year low of $64.25 and a one year high of $101.74. The company has a debt-to-equity ratio of 7.57, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50-day moving average is $83.46 and its 200 day moving average is $85.23. The firm has a market cap of $20.64 billion, a price-to-earnings ratio of 61.37 and a beta of 1.31.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYV. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Live Nation Entertainment in a report on Thursday, September 28th. Benchmark restated a “buy” rating and set a $110.00 price objective on shares of Live Nation Entertainment in a research report on Monday, October 9th. TD Cowen boosted their price objective on Live Nation Entertainment from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 25th. Finally, Roth Mkm reduced their price objective on Live Nation Entertainment from $102.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $105.17.

About Live Nation Entertainment

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 and streams associated content; and offers management and other services to artists.