Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 11.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,010 shares of the company’s stock after selling 250 shares during the period. Oppenheimer & Co. Inc.’s holdings in Live Nation Entertainment were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the third quarter worth approximately $31,000. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $44,000. Independence Bank of Kentucky acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $45,000. Finally, Morse Asset Management Inc purchased a new position in Live Nation Entertainment during the third quarter worth approximately $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on LYV shares. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Oppenheimer lifted their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Roth Mkm lifted their price objective on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup lifted their price objective on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.27.

Live Nation Entertainment Stock Down 2.7 %

Shares of NYSE:LYV opened at $127.56 on Friday. The company has a market capitalization of $29.77 billion, a price-to-earnings ratio of 46.90, a PEG ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The business has a 50-day moving average price of $140.47 and a 200 day moving average price of $125.78. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

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

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.72% of the stock is currently owned by corporate insiders.

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.