Phoenix Financial Ltd. Sells 6,434 Shares of Live Nation Entertainment, Inc. $LYV

Phoenix Financial Ltd. lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,666 shares of the company’s stock after selling 6,434 shares during the quarter. Phoenix Financial Ltd.’s holdings in Live Nation Entertainment were worth $2,375,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Live Nation Entertainment by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after purchasing an additional 372,715 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Live Nation Entertainment by 10.3% during the 4th quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Capital World Investors increased its holdings in shares of Live Nation Entertainment by 4.8% during the 3rd quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after purchasing an additional 237,342 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Live Nation Entertainment by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after purchasing an additional 123,800 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Live Nation Entertainment by 70.0% during the 4th quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after purchasing an additional 759,363 shares during the period. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Guggenheim boosted their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Evercore restated an “outperform” rating and set a $198.00 price objective on shares of Live Nation Entertainment in a report on Friday, February 20th. Bank of America boosted their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $190.00 to $192.00 in a research report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.75.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the transaction, the director directly owned 48,030 shares in the company, valued at $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This trade represents a 33.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 157,798 shares of company stock worth $26,088,615. Corporate insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $169.00 on Friday. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $158.36 and its 200-day simple moving average is $149.22. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $175.25. The firm has a market cap of $39.81 billion, a P/E ratio of -95.48 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm posted ($0.32) earnings per share. Live Nation Entertainment’s revenue was up 12.1% on a year-over-year basis. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.13 EPS for the current fiscal year.

Live Nation Entertainment 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.