64,680 Shares in Live Nation Entertainment, Inc. $LYV Acquired by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management opened a new position in Live Nation Entertainment, buying 64,680 shares valued at about $9.86 million in the first quarter.
• Several Live Nation insiders sold shares in May, including EVP Michael Rowles and EVP John Hopmans, while institutional investors still own 74.52% of the stock.
• Live Nation reported strong revenue growth of $3.79 billion for the quarter, but earnings missed estimates; analysts remain largely positive with a Moderate Buy consensus and a target price of $188.50.

iA Global Asset Management Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 64,680 shares of the company's stock, valued at approximately $9,864,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC increased its position in shares of Live Nation Entertainment by 4.9% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company's stock worth $228,000 after purchasing an additional 75 shares during the period. Vident Advisory LLC lifted its position in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company's stock worth $548,000 after purchasing an additional 75 shares during the period. Prairie Wealth Advisors Inc. grew its stake in Live Nation Entertainment by 5.0% during the third quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company's stock worth $272,000 after buying an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company's stock valued at $972,000 after buying an additional 82 shares during the period. Finally, Ameriflex Group Inc. raised its position in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after buying an additional 84 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,776 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LYV. Citizens Jmp started coverage on shares of Live Nation Entertainment in a report on Monday, March 30th. They set a "market outperform" rating and a $190.00 price target for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Live Nation Entertainment in a research report on Thursday, June 4th. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a "hold" rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. Twenty research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $188.50.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $183.90 on Thursday. The firm's fifty day moving average price is $166.55 and its two-hundred day moving average price is $156.60. The stock has a market cap of $43.32 billion, a PE ratio of -103.90 and a beta of 1.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $187.64.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The firm's revenue was up 12.1% on a year-over-year basis. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company's core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry's largest ticketing platforms.

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