Colonial Trust Advisors Trims Position in Live Nation (LYV)

Colonial Trust Advisors decreased its stake in shares of Live Nation (NYSE:LYV) by 15.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,050 shares of the company’s stock after selling 6,450 shares during the period. Colonial Trust Advisors’ holdings in Live Nation were worth $1,435,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in Live Nation by 36.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 32,029 shares of the company’s stock valued at $1,350,000 after purchasing an additional 8,501 shares during the period. Federated Investors Inc. PA lifted its position in Live Nation by 103.8% during the 1st quarter. Federated Investors Inc. PA now owns 515,614 shares of the company’s stock valued at $21,728,000 after purchasing an additional 262,648 shares during the period. Northern Trust Corp lifted its position in Live Nation by 0.9% during the 1st quarter. Northern Trust Corp now owns 1,465,264 shares of the company’s stock valued at $61,747,000 after purchasing an additional 12,803 shares during the period. 6 Meridian acquired a new position in Live Nation during the 1st quarter valued at about $442,000. Finally, Envestnet Asset Management Inc. lifted its position in Live Nation by 34.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 30,542 shares of the company’s stock valued at $1,286,000 after purchasing an additional 7,851 shares during the period. Institutional investors and hedge funds own 68.13% of the company’s stock.

Shares of LYV stock opened at $44.44 on Wednesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $9.26 billion, a PE ratio of -92.58 and a beta of 0.98. Live Nation has a one year low of $33.13 and a one year high of $49.11.

Live Nation (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 3rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.05. The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Live Nation had a negative return on equity of 1.76% and a negative net margin of 0.25%. Live Nation’s revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) EPS. sell-side analysts expect that Live Nation will post 0.14 earnings per share for the current fiscal year.

A number of research firms have issued reports on LYV. Zacks Investment Research upgraded shares of Live Nation from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Macquarie restated a “buy” rating and set a $55.00 target price on shares of Live Nation in a research report on Thursday, March 1st. Guggenheim restated a “buy” rating and set a $53.00 target price on shares of Live Nation in a research report on Thursday, March 1st. Evercore ISI upgraded shares of Live Nation from an “in-line” rating to an “outperform” rating and upped their target price for the company from $32.80 to $49.11 in a research report on Friday, May 4th. Finally, Northcoast Research upgraded shares of Live Nation from a “neutral” rating to a “buy” rating in a research report on Monday, April 23rd. One analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Live Nation has an average rating of “Buy” and a consensus target price of $49.14.

About Live Nation

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

Institutional Ownership by Quarter for Live Nation (NYSE:LYV)

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