Anderson Financial Strategies LLC Makes New $1.39 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Anderson Financial Strategies LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,698 shares of the company's stock, valued at approximately $1,385,000. Live Nation Entertainment comprises about 0.8% of Anderson Financial Strategies LLC's investment portfolio, making the stock its 23rd biggest holding.

Several other large investors have also made changes to their positions in the company. Aristeia Capital L.L.C. bought a new position in Live Nation Entertainment in the 4th quarter valued at $1,400,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Live Nation Entertainment by 17.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,021 shares of the company's stock valued at $780,000 after buying an additional 899 shares during the last quarter. Freestone Grove Partners LP bought a new stake in Live Nation Entertainment during the 4th quarter worth about $1,286,000. Comerica Bank increased its position in Live Nation Entertainment by 13.4% in the 4th quarter. Comerica Bank now owns 45,786 shares of the company's stock valued at $5,929,000 after acquiring an additional 5,396 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $517,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Stock Up 1.7 %

Shares of NYSE:LYV traded up $2.33 during trading on Monday, hitting $136.10. 2,968,913 shares of the company's stock traded hands, compared to its average volume of 2,239,392. The company has a 50-day moving average price of $128.29 and a 200-day moving average price of $132.64. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. 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 has a market cap of $31.86 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last 90 days. 2.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LYV has been the subject of several research analyst reports. Rosenblatt Securities dropped their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday. Benchmark reiterated a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Bank of America raised their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Roth Mkm cut their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday. Finally, Macquarie lifted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $159.13.

About Live Nation Entertainment

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.