Choreo LLC Sells 808 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Choreo LLC lowered its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 24.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,458 shares of the company’s stock after selling 808 shares during the quarter. Choreo LLC’s holdings in Live Nation Entertainment were worth $321,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after acquiring an additional 87,032 shares during the last quarter. Geode Capital Management LLC increased its holdings in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after purchasing an additional 321,832 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after acquiring an additional 385,143 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after acquiring an additional 387,008 shares during the period. Finally, ValueAct Holdings L.P. purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth approximately $111,094,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.9 %

NYSE:LYV opened at $152.58 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $35.45 billion, a price-to-earnings ratio of 162.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $152.93. The business has a fifty day moving average price of $137.11 and a 200-day moving average price of $119.80.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the business posted $1.78 EPS. Live Nation Entertainment’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on LYV. TD Cowen upped their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Benchmark boosted their price target on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Finally, Macquarie upped their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.60.

About Live Nation Entertainment

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.