B. Riley Wealth Advisors Inc. Sells 358 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

B. Riley Wealth Advisors Inc. lessened its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,276 shares of the company’s stock after selling 358 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Live Nation Entertainment were worth $588,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. bought a new position in shares of Live Nation Entertainment during the first quarter worth about $32,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. Rise Advisors LLC grew its holdings in shares of Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after buying an additional 176 shares in the last quarter. Finally, Family Firm Inc. bought a new position in shares of Live Nation Entertainment during the second quarter worth about $42,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LYV shares. Morgan Stanley reiterated an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Bank of America began coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 price target for the company. Macquarie reissued an “outperform” rating and set a $125.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Rosenblatt Securities reissued a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.46.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last 90 days. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $110.87 on Friday. The stock has a market cap of $25.47 billion, a P/E ratio of 105.59, a PEG ratio of 2.46 and a beta of 1.35. The stock has a 50 day simple moving average of $98.36 and a 200 day simple moving average of $96.65. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $112.00.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 earnings per share. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Live Nation Entertainment Company 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.