DigitalBridge Group Inc. Sells 23,835 Shares of Live Nation Entertainment, Inc. $LYV

DigitalBridge Group Inc. decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 9.5% in the third quarter, Holdings Channel reports. The firm owned 226,719 shares of the company’s stock after selling 23,835 shares during the quarter. Live Nation Entertainment comprises about 2.9% of DigitalBridge Group Inc.’s portfolio, making the stock its 15th biggest holding. DigitalBridge Group Inc.’s holdings in Live Nation Entertainment were worth $37,046,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its position in Live Nation Entertainment by 3.3% in the first quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock valued at $2,269,000 after acquiring an additional 547 shares during the period. Allworth Financial LP boosted its stake in shares of Live Nation Entertainment by 48.8% in the 2nd quarter. Allworth Financial LP now owns 448 shares of the company’s stock valued at $68,000 after purchasing an additional 147 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Live Nation Entertainment by 14.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 26,528 shares of the company’s stock worth $4,013,000 after purchasing an additional 3,272 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Live Nation Entertainment by 7.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,653 shares of the company’s stock worth $5,847,000 after purchasing an additional 2,793 shares in the last quarter. Finally, Creative Planning lifted its holdings in Live Nation Entertainment by 21.9% during the 2nd quarter. Creative Planning now owns 42,263 shares of the company’s stock valued at $6,394,000 after purchasing an additional 7,604 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Down 0.8%

NYSE LYV opened at $155.81 on Wednesday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 1.00 and a current ratio of 1.00. Live Nation Entertainment, Inc. has a 52 week low of $113.20 and a 52 week high of $175.25. The stock has a market capitalization of $36.59 billion, a P/E ratio of -649.22 and a beta of 1.11. The stock has a fifty day moving average of $151.79 and a 200-day moving average of $150.05.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. Live Nation Entertainment’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 EPS. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LYV. Oppenheimer reaffirmed an “outperform” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Evercore reiterated an “outperform” rating and issued a $198.00 price objective on shares of Live Nation Entertainment in a research report on Friday, February 20th. Morgan Stanley restated an “overweight” rating and set a $185.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Wall Street Zen cut Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.40.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 944 shares of Live Nation Entertainment stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.