Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,145 shares of the company’s stock after selling 95 shares during the period. Mystic Asset Management Inc.’s holdings in Live Nation Entertainment were worth $666,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $31,000. World Investment Advisors LLC acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $38,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment in the 4th quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment in the 4th quarter worth about $44,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 2.2 %

Live Nation Entertainment stock opened at $121.89 on Tuesday. The firm has a 50 day moving average price of $139.38 and a 200 day moving average price of $127.00. The company has a market capitalization of $28.45 billion, a PE ratio of 44.81, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on LYV. Macquarie lifted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Citigroup raised their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Roth Mkm raised their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Two 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.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.27.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 over the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Profile

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.