Teamwork Financial Advisors LLC Lowers Stock Position in Live Nation Entertainment, Inc. $LYV

Teamwork Financial Advisors LLC cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 96.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,726 shares of the company’s stock after selling 70,690 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Live Nation Entertainment were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. 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 worth $2,269,000 after acquiring an additional 547 shares in the last quarter. Cetera Investment Advisers raised its position in Live Nation Entertainment by 11.1% during the second quarter. Cetera Investment Advisers now owns 12,468 shares of the company’s stock valued at $1,886,000 after purchasing an additional 1,243 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Live Nation Entertainment by 44.5% during the second quarter. Rockefeller Capital Management L.P. now owns 14,489 shares of the company’s stock worth $2,192,000 after purchasing an additional 4,462 shares during the last quarter. Ensign Peak Advisors Inc boosted its holdings in shares of Live Nation Entertainment by 24.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 112,383 shares of the company’s stock worth $17,001,000 after purchasing an additional 22,362 shares in the last quarter. Finally, Prudential PLC increased its position in shares of Live Nation Entertainment by 132.9% during the 2nd quarter. Prudential PLC now owns 4,111 shares of the company’s stock valued at $622,000 after purchasing an additional 2,346 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 $148.99 on Monday. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. Live Nation Entertainment, Inc. has a one year low of $113.20 and a one year high of $175.25. The business’s 50 day simple moving average is $152.25 and its two-hundred day simple moving average is $149.81. The stock has a market capitalization of $34.98 billion, a P/E ratio of -620.79 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $6.12 billion. During the same period last year, the company posted $0.58 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LYV shares. Oppenheimer restated an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a research report on Friday, February 20th. Zacks Research cut shares of Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a research report on Friday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $175.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 20th. Finally, Wolfe Research lifted their target price on shares of Live Nation Entertainment from $175.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $184.40.

Insiders Place Their Bets

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

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.