2,450 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise acquired 2,450 shares of Live Nation Entertainment, valued at approximately $320,000, marking its entry into the company's stock during the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Live Nation, with target prices ranging between $160.00 and $185.00, indicating expected growth in the company's value.
• Insider transaction reports revealed that John Hopmans, EVP, sold 34,808 shares, reducing his ownership by 15.52%, highlighting notable insider activity within the company.

Banque Cantonale Vaudoise bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,450 shares of the company's stock, valued at approximately $320,000.

A number of other hedge funds have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $29,000. Wayfinding Financial LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $30,000. Chilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $33,000. GW&K Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 690.2% during the first quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock valued at $42,000 after purchasing an additional 283 shares during the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Live Nation Entertainment during the first quarter valued at $42,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LYV. Wolfe Research upped their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Morgan Stanley set a $180.00 price target on Live Nation Entertainment in a report on Thursday, July 24th. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. Finally, Roth Mkm lowered their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.82.

Insider Transactions at Live Nation Entertainment

In related 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 completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.01% of the company's stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $146.17 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The business has a fifty day simple moving average of $146.37 and a 200 day simple moving average of $139.49. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 5.75 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. Live Nation Entertainment's revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Company 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.

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