Rhumbline Advisers Sells 4,765 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Rhumbline Advisers reduced its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 289,194 shares of the company’s stock after selling 4,765 shares during the period. Rhumbline Advisers’ holdings in Live Nation Entertainment were worth $37,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. grew its stake in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP grew its position in Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after buying an additional 82 shares during the period. Cromwell Holdings LLC increased its holdings in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the last quarter. Private Advisor Group LLC raised its position in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after acquiring an additional 89 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of Live Nation Entertainment by 21.2% during the 4th quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after acquiring an additional 93 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $154.73 on Wednesday. The firm has a market cap of $35.95 billion, a PE ratio of 164.61, a PEG ratio of 1.73 and a beta of 1.38. The stock has a 50 day moving average of $138.26 and a 200 day moving average of $121.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $155.05.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LYV. Roth Mkm raised their target price on Live Nation Entertainment from $132.00 to $152.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $137.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Benchmark raised their target price on shares of Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.47.

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.