MML Investors Services LLC Trims Position in Live Nation Entertainment, Inc. (NYSE:LYV)

MML Investors Services LLC reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 37.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,517 shares of the company’s stock after selling 3,862 shares during the quarter. MML Investors Services LLC’s holdings in Live Nation Entertainment were worth $714,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Live Nation Entertainment in the third quarter valued at $41,000. Morse Asset Management Inc acquired a new position in shares of Live Nation Entertainment in the 3rd quarter valued at $42,000. Finally, Cromwell Holdings LLC grew its holdings in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the period. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America upped their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Oppenheimer boosted their target price on Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. TD Cowen raised their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI boosted 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. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $145.40.

Live Nation Entertainment Trading Up 0.8 %

Shares of NYSE:LYV opened at $133.28 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $86.67 and a 52 week high of $141.18. The company’s 50 day moving average is $128.02 and its two-hundred day moving average is $107.76. The company has a market cap of $30.97 billion, a PE ratio of 141.79, a P/E/G ratio of 3.65 and a beta of 1.37. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.78 earnings per share. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

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.