Live Nation Entertainment, Inc. $LYV Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,059 shares of the company’s stock after selling 5,368 shares during the period. Allianz Asset Management GmbH’s holdings in Live Nation Entertainment were worth $6,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Clearstead Trust LLC grew its position in shares of Live Nation Entertainment by 469.0% in the second quarter. Clearstead Trust LLC now owns 165 shares of the company’s stock valued at $25,000 after purchasing an additional 136 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Live Nation Entertainment during the 3rd quarter valued at $33,000. Heartwood Wealth Advisors LLC purchased a new position in Live Nation Entertainment during the third quarter worth $34,000. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the third quarter worth $37,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at $37,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LYV. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. Rothschild & Co Redburn cut their price objective on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Live Nation Entertainment in a research report on Monday, December 29th. Zacks Research downgraded Live Nation Entertainment from a “hold” rating to a “strong sell” rating in a report on Friday, January 16th. Finally, Jefferies Financial Group cut Live Nation Entertainment from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $161.00 to $155.00 in a report on Tuesday, January 13th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $172.55.

Live Nation Entertainment Stock Up 4.9%

Shares of LYV opened at $147.74 on Tuesday. Live Nation Entertainment, Inc. has a fifty-two week low of $112.88 and a fifty-two week high of $175.25. The company’s fifty day moving average is $142.84 and its two-hundred day moving average is $149.89. The firm has a market cap of $34.68 billion, a PE ratio of 107.06, a price-to-earnings-growth ratio of 9.30 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41.

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.