Stifel Financial Corp Sells 2,531 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Stifel Financial Corp cut its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 17.5% during the third quarter, HoldingsChannel.com reports. The fund owned 11,918 shares of the company’s stock after selling 2,531 shares during the quarter. Stifel Financial Corp’s holdings in Live Nation Entertainment were worth $1,305,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP increased its holdings in Live Nation Entertainment by 4.5% during the 3rd quarter. Quantinno Capital Management LP now owns 28,397 shares of the company’s stock worth $3,109,000 after purchasing an additional 1,223 shares during the period. Royal London Asset Management Ltd. lifted its stake in shares of Live Nation Entertainment by 12.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 141,846 shares of the company’s stock worth $15,531,000 after purchasing an additional 15,544 shares during the last quarter. PointState Capital LP bought a new stake in Live Nation Entertainment during the third quarter valued at about $102,762,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the third quarter valued at about $42,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter valued at about $314,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.8 %

NYSE:LYV opened at $133.28 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $128.02 and its 200-day moving average price is $107.76. Live Nation Entertainment, Inc. has a 1-year low of $86.67 and a 1-year high of $141.18. The firm has a market capitalization of $30.97 billion, a P/E ratio of 141.79, a PEG ratio of 3.65 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $1.78 EPS. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America lifted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Evercore ISI increased their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Benchmark boosted their target price on Live Nation Entertainment from $144.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Company 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.