Corton Capital Inc. Acquires Shares of 3,141 Live Nation Entertainment, Inc. (NYSE:LYV)

Corton Capital Inc. acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,141 shares of the company's stock, valued at approximately $407,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after buying an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company's stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Western Pacific Wealth Management LP grew its position in shares of Live Nation Entertainment by 10.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company's stock valued at $112,000 after acquiring an additional 82 shares during the period. UMB Bank n.a. increased its stake in shares of Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company's stock worth $69,000 after purchasing an additional 93 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its holdings in Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company's stock worth $707,000 after purchasing an additional 93 shares during the period. Institutional investors own 74.52% of the company's stock.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction 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. This represents a 24.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company's stock, valued at approximately $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. In the last quarter, insiders sold 68,702 shares of company stock valued at $10,497,143. Insiders own 3.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LYV. Bank of America upped their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Rosenblatt Securities lowered their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Finally, Susquehanna initiated coverage on shares of Live Nation Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $155.00 target price on the stock. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.13.

Live Nation Entertainment Price Performance

NYSE:LYV traded up $1.93 during trading hours on Friday, reaching $136.62. The stock had a trading volume of 1,256,666 shares, compared to its average volume of 2,233,163. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $31.66 billion, a PE ratio of 50.23, a PEG ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a 50 day moving average price of $127.81 and a two-hundred day moving average price of $132.95.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the previous year, the company earned $0.60 EPS. Live Nation Entertainment's revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 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.