Stifel Financial Corp Sells 2,531 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Stifel Financial Corp trimmed its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,918 shares of the company’s stock after selling 2,531 shares during the period. Stifel Financial Corp’s holdings in Live Nation Entertainment were worth $1,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the 3rd quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment during the third quarter valued at $41,000. Morse Asset Management Inc bought a new position in Live Nation Entertainment in the third quarter valued at about $42,000. Finally, Cromwell Holdings LLC boosted its position in Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Bank of America upped their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. The Goldman Sachs Group upped their target price on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI increased their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $132.00 to $152.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Benchmark raised their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $133.28 on Friday. Live Nation Entertainment, Inc. has a 52-week low of $86.67 and a 52-week high of $141.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s fifty day moving average is $128.02 and its 200 day moving average is $107.76. The company has a market cap of $30.97 billion, a price-to-earnings ratio of 141.79, a PEG ratio of 3.65 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.78 earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal 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.