Ellevest Inc. Invests $293,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Ellevest Inc. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,262 shares of the company's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in 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 during the 4th quarter worth about $42,000. Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter worth about $44,000. Independence Bank of Kentucky acquired a new position in Live Nation Entertainment in the 4th quarter valued at about $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Live Nation Entertainment in the 4th quarter valued at about $53,000. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

LYV traded up $2.18 on Tuesday, reaching $143.01. The company had a trading volume of 1,576,280 shares, compared to its average volume of 2,231,608. 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 52-week low of $86.81 and a 52-week high of $157.75. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 52.58, a P/E/G ratio of 1.81 and a beta of 1.47. The business has a 50 day simple moving average of $128.14 and a 200 day simple moving average of $133.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The firm's revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Bank of America upped their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a report on Monday, February 24th. Benchmark restated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Roth Mkm reduced 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 research note on Friday, May 2nd. Finally, Susquehanna initiated coverage on shares of Live Nation Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $155.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.07.

Insider Activity at Live Nation Entertainment

In related news, 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 in the company, valued at $1,300,058.76. This trade represents a 32.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. The trade was a 24.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 3.01% of the company's stock.

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.