Assetmark Inc. Cuts Stock Position in Live Nation Entertainment, Inc. $LYV

Assetmark Inc. lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 205,503 shares of the company’s stock after selling 3,256 shares during the period. Assetmark Inc.’s holdings in Live Nation Entertainment were worth $33,579,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of LYV. Ground Swell Capital LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at approximately $224,000. Illinois Municipal Retirement Fund boosted its holdings in Live Nation Entertainment by 43.6% during the third quarter. Illinois Municipal Retirement Fund now owns 21,917 shares of the company’s stock worth $3,581,000 after buying an additional 6,659 shares in the last quarter. Caprock Group LLC acquired a new stake in Live Nation Entertainment in the third quarter valued at $418,000. Stratos Wealth Partners LTD. lifted its holdings in shares of Live Nation Entertainment by 119.6% in the third quarter. Stratos Wealth Partners LTD. now owns 5,359 shares of the company’s stock valued at $876,000 after purchasing an additional 2,919 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at $428,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 2.3%

Shares of LYV stock opened at $158.39 on Friday. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 114.78, a PEG ratio of 10.26 and a beta of 1.18. The stock’s 50 day simple moving average is $144.25 and its 200 day simple moving average is $149.94. Live Nation Entertainment, Inc. has a twelve month low of $112.88 and a twelve month high of $175.25. The company has a debt-to-equity ratio of 5.41, a quick ratio of 0.92 and a current ratio of 0.92.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LYV shares. UBS Group assumed coverage on Live Nation Entertainment in a report on Tuesday, November 25th. They set a “buy” rating and a $164.00 price objective for the company. Jefferies Financial Group lowered shares of Live Nation Entertainment from a “buy” rating to a “hold” rating and cut their target price for the company from $161.00 to $155.00 in a research note on Tuesday, January 13th. Rothschild & Co Redburn decreased their price target on shares of Live Nation Entertainment from $170.00 to $166.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Roth Mkm set a $174.00 price target on Live Nation Entertainment in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $160.00 to $165.00 and gave the stock a “sell” rating in a research report on Friday, January 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.