Chevy Chase Trust Holdings LLC sells 800 shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Chevy Chase Trust Holdings LLC reduced its stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 1.0% in the second quarter, Holdings Channel.com reports. The fund owned 78,522 shares of the company’s stock after selling 800 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Live Nation Entertainment were worth $7,361,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $788,000. Louisiana State Employees Retirement System acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $805,000. Federated Hermes Inc. purchased a new stake in shares of Live Nation Entertainment in the fourth quarter valued at $8,716,000. abrdn plc raised its stake in shares of Live Nation Entertainment by 70.8% in the fourth quarter. abrdn plc now owns 64,848 shares of the company’s stock worth $6,070,000 after acquiring an additional 26,877 shares during the period. Finally, Signaturefd LLC increased its position in Live Nation Entertainment by 41.0% during the fourth quarter. Signaturefd LLC now owns 1,045 shares of the company’s stock valued at $98,000 after purchasing an additional 304 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s shares.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $96.47 on Thursday. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92, and a quick ratio of 0.92. The company’s 50-day moving average is $93.52, and its two-hundred-day moving average is $95.30. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. The company has a market cap of $22.16 billion, a PE ratio of 91.88, a price-to-earnings-growth ratio of 2.18 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV – Get Your Free Report ) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.02 billion. In the same period last year, the company earned $1.02 per share. Live Nation Entertainment’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Analysts set new price targets

Several analysts have recently commented on LYV shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Redburn Atlantic raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the company from $114.00 to $115.00 in a report on Thursday, 9 May. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Moderate Buy” and a consensus price target of $118.17, according to MarketBeat.

Check out our latest stock report on Live Nation Entertainment

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at $1,190,911.47. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. In related news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Company insiders own 2.85% of the company’s shares.

Live Nation Entertainment company profile

(Free Report)

Live Nation Entertainment, Inc. operates as a worldwide live entertainment company. It operates through the Concerts, Ticketing and Sponsorship and Advertising segments. The Concerts segment promotes live music events at venues owned or operated by it and at venues leased by third parties. This segment operates and manages music venues; produces music festivals; create and distribute related content; and provides management and other services to artists.

See Also

Want to see what other hedge funds hold LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Live Nation Entertainment, Inc. (NYSE:LYV – Free Report).

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