27,305 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Bought by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,305 shares of the company's stock, valued at approximately $3,565,000. Live Nation Entertainment accounts for approximately 1.1% of Wakefield Asset Management LLLP's portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also added to or reduced their stakes in LYV. Robeco Institutional Asset Management B.V. bought a new position in shares of Live Nation Entertainment during the first quarter worth $1,153,000. Praxis Investment Management Inc. lifted its stake in Live Nation Entertainment by 45.2% during the 1st quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock valued at $726,000 after acquiring an additional 1,730 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment in the 1st quarter worth $272,000. Teacher Retirement System of Texas purchased a new stake in shares of Live Nation Entertainment during the first quarter worth $3,081,000. Finally, Personal CFO Solutions LLC acquired a new position in shares of Live Nation Entertainment during the 1st quarter valued at about $277,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of LYV opened at $151.22 on Wednesday. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a 50 day moving average price of $145.12 and a two-hundred day moving average price of $138.15. The firm has a market capitalization of $35.05 billion, a P/E ratio of 51.61, a P/E/G ratio of 5.79 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The company's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Roth Mkm reduced their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Rosenblatt Securities lowered their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Guggenheim reaffirmed a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $165.24.

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.

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