Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management cut its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,528 shares of the company’s stock after selling 287 shares during the quarter. Triangle Securities Wealth Management’s holdings in Live Nation Entertainment were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $31,000. Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $44,000. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the 3rd quarter valued at $41,000. Morse Asset Management Inc acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. Finally, SOA Wealth Advisors LLC. purchased a new position in shares of Live Nation Entertainment in the 3rd quarter worth $46,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock opened at $135.71 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. Live Nation Entertainment, Inc. has a 12 month low of $86.67 and a 12 month high of $141.18. The company has a fifty day moving average price of $133.51 and a two-hundred day moving average price of $113.44. The company has a market cap of $31.53 billion, a PE ratio of 144.37, a P/E/G ratio of 1.50 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Research analysts expect that Live Nation Entertainment, Inc. will post 1.02 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on LYV. Bank of America upped their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Macquarie increased their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Benchmark boosted their price objective 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 raised their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $145.40.

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.