Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,651 shares of the company’s stock after selling 1,371 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Live Nation Entertainment were worth $2,545,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after buying an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in Live Nation Entertainment by 19.0% in the fourth quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after buying an additional 80 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in Live Nation Entertainment by 10.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock valued at $112,000 after buying an additional 82 shares during the last quarter. UMB Bank n.a. lifted its stake in Live Nation Entertainment by 21.2% in the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after buying an additional 93 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its stake in Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock valued at $707,000 after buying an additional 93 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $119.25 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s 50-day moving average price is $139.52 and its two-hundred day moving average price is $126.41. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The stock has a market cap of $27.83 billion, a PE ratio of 43.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment 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.