DAVENPORT & Co LLC Has $127.83 Million Holdings in Live Nation Entertainment, Inc. $LYV

DAVENPORT & Co LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 893,111 shares of the company’s stock after selling 34,297 shares during the period. DAVENPORT & Co LLC owned 0.38% of Live Nation Entertainment worth $127,825,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Ameriflex Group Inc. increased its holdings in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Atwood & Palmer Inc. acquired a new stake in Live Nation Entertainment in the third quarter valued at approximately $33,000. Heartwood Wealth Advisors LLC bought a new stake in Live Nation Entertainment in the third quarter worth approximately $34,000. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $37,000. Finally, Root Financial Partners LLC bought a new position in shares of Live Nation Entertainment during the 3rd quarter valued at $37,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYV. Weiss Ratings raised shares of Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. Morgan Stanley restated an “overweight” rating and set a $185.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 20th. Wells Fargo & Company initiated coverage on Live Nation Entertainment in a report on Wednesday, February 25th. They set an “overweight” rating and a $204.00 price objective on the stock. Finally, UBS Group raised their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the company a “buy” rating in a research note on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $184.40.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $152.61 on Wednesday. The company has a market capitalization of $35.83 billion, a PE ratio of -635.85 and a beta of 1.11. The company has a debt-to-equity ratio of 8.51, a current ratio of 1.00 and a quick ratio of 1.00. Live Nation Entertainment, Inc. has a one year low of $113.20 and a one year high of $175.25. The company’s fifty day moving average price is $152.44 and its 200 day moving average price is $149.66.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.06). The business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.12 billion. Live Nation Entertainment had a net margin of 1.79% and a return on equity of 48.11%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the sale, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.72% of the stock is currently owned by insiders.

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.