Picton Mahoney Asset Management Invests $1.42 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Picton Mahoney Asset Management bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 10,840 shares of the company's stock, valued at approximately $1,415,000.

Other large investors have also recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new position in Live Nation Entertainment during the 4th quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in Live Nation Entertainment during the 1st quarter worth about $30,000. Chilton Capital Management LLC acquired a new stake in Live Nation Entertainment during the 1st quarter worth about $33,000. GW&K Investment Management LLC grew its holdings in Live Nation Entertainment by 690.2% during the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after acquiring an additional 283 shares during the period. Finally, Private Trust Co. NA grew its holdings in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after acquiring an additional 196 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

LYV has been the subject of several research reports. Guggenheim restated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a research note on Thursday, July 24th. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a research note on Tuesday, June 10th. Rosenblatt Securities cut their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Sanford C. Bernstein assumed coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.82.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the transaction, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded down $1.53 during mid-day trading on Friday, reaching $146.17. The company had a trading volume of 1,725,926 shares, compared to its average volume of 2,502,545. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 49.89, a PEG ratio of 5.92 and a beta of 1.45. The company's 50-day moving average price is $146.35 and its 200-day moving average price is $139.39. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its 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 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.60 EPS. The company's revenue was down 11.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS 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.