Malaga Cove Capital LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Malaga Cove Capital LLC purchased 2,765 shares of Live Nation Entertainment, Inc. for approximately $361,000, indicating institutional interest in the company.
• Live Nation reported a quarterly loss of ($0.32) EPS, missing analyst expectations, and experienced an 11% decline in revenue year-over-year.
• Several analysts have set new price targets for Live Nation's stock, with a consensus rating of "Moderate Buy" and an average price target of $165.82.

Malaga Cove Capital LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,765 shares of the company's stock, valued at approximately $361,000.

Several other institutional investors also recently bought and sold shares of the business. R Squared Ltd grew its holdings in Live Nation Entertainment by 1,638.5% in the first quarter. R Squared Ltd now owns 2,260 shares of the company's stock valued at $295,000 after purchasing an additional 2,130 shares during the period. Cumberland Partners Ltd purchased a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $914,000. PNC Financial Services Group Inc. lifted its position in shares of Live Nation Entertainment by 18.3% in the first quarter. PNC Financial Services Group Inc. now owns 23,256 shares of the company's stock valued at $3,037,000 after acquiring an additional 3,605 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $5,624,000. Finally, IFG Advisory LLC purchased a new position in shares of Live Nation Entertainment in the first quarter valued at approximately $323,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Down 1.2%

LYV stock traded down $1.84 during midday trading on Tuesday, hitting $149.46. 189,204 shares of the company's stock were exchanged, compared to its average volume of 2,482,998. The business has a 50-day simple moving average of $146.50 and a two-hundred day simple moving average of $139.68. 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 stock has a market capitalization of $34.64 billion, a PE ratio of 50.80, a P/E/G ratio of 5.69 and a beta of 1.46. Live Nation Entertainment, Inc. has a 1-year low of $88.06 and a 1-year high of $157.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LYV shares. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Roth Mkm decreased their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Sanford C. Bernstein started coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Finally, Wolfe Research raised their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.82.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.72% of the stock is currently owned by company insiders.

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.