Freemont Management S.A. Reduces Stock Position in Live Nation Entertainment, Inc. $LYV

Freemont Management S.A. decreased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 88.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,000 shares of the company’s stock after selling 14,700 shares during the quarter. Freemont Management S.A.’s holdings in Live Nation Entertainment were worth $327,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,306,413 shares of the company’s stock valued at $3,071,954,000 after purchasing an additional 423,541 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 22.1% during the third quarter. Principal Financial Group Inc. now owns 9,725,776 shares of the company’s stock valued at $1,589,196,000 after buying an additional 1,763,511 shares during the period. Geode Capital Management LLC raised its holdings in shares of Live Nation Entertainment by 3.8% during the second quarter. Geode Capital Management LLC now owns 4,246,082 shares of the company’s stock valued at $639,849,000 after acquiring an additional 156,471 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Live Nation Entertainment by 7.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,071,673 shares of the company’s stock worth $501,911,000 after acquiring an additional 212,592 shares during the period. Finally, Norges Bank bought a new stake in Live Nation Entertainment in the second quarter valued at $198,336,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $154.83 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 5.41. The stock has a market cap of $36.34 billion, a P/E ratio of 112.19, a P/E/G ratio of 9.98 and a beta of 1.18. The business’s 50 day moving average price is $143.86 and its 200-day moving average price is $149.90. Live Nation Entertainment, Inc. has a 52 week low of $112.88 and a 52 week high of $175.25.

Wall Street Analyst Weigh In

Several research analysts have commented on LYV shares. Benchmark restated a “buy” rating on shares of Live Nation Entertainment in a report on Tuesday, November 4th. Guggenheim decreased their price target on shares of Live Nation Entertainment from $172.00 to $168.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Morgan Stanley cut their price objective on Live Nation Entertainment from $180.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Moffett Nathanson decreased their target price on Live Nation Entertainment from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Live Nation Entertainment from $173.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.45.

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.