Comerica Bank Has $5.93 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Comerica Bank boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,786 shares of the company's stock after buying an additional 5,396 shares during the period. Comerica Bank's holdings in Live Nation Entertainment were worth $5,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth $40,000. Golden State Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $42,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $44,000. Independence Bank of Kentucky acquired a new position in Live Nation Entertainment during the fourth quarter valued at approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Live Nation Entertainment in the fourth quarter valued at approximately $53,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

NYSE:LYV traded up $0.69 during mid-day trading on Thursday, hitting $134.82. The stock had a trading volume of 1,512,679 shares, compared to its average volume of 2,237,025. The company's 50 day simple moving average is $127.98 and its 200 day simple moving average is $132.67. The stock has a market cap of $31.56 billion, a price-to-earnings ratio of 49.57, a PEG ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75.

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

Analysts Set New Price Targets

LYV has been the subject of a number of recent analyst reports. Rosenblatt Securities lowered 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, May 2nd. Bank of America increased their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Roth Mkm reduced their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $159.13.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company's stock.

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.