USA Financial Formulas 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 filing with the Securities and Exchange Commission. The institutional investor bought 8,140 shares of the company's stock, valued at approximately $1,063,000.
A number of other large investors also recently made changes to their positions in the business. Independent Franchise Partners LLP grew its stake in shares of Live Nation Entertainment by 207.6% in the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after buying an additional 3,168,210 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $259,000,000. Norges Bank bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $255,955,000. Jericho Capital Asset Management L.P. grew its stake in shares of Live Nation Entertainment by 32.0% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after buying an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $88,394,000. Institutional investors and hedge funds own 74.52% of the company's stock.
Insider Activity at Live Nation Entertainment
In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president now directly owns 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.01% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
LYV has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Benchmark restated a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Wolfe Research boosted their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday. Susquehanna set a $165.00 target price on Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday. Finally, Macquarie boosted their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.35.
Get Our Latest Analysis on LYV
Live Nation Entertainment Stock Performance
Shares of LYV stock traded down $3.23 during trading hours on Friday, reaching $138.08. 1,794,105 shares of the company's stock were exchanged, compared to its average volume of 2,320,118. The business has a fifty day moving average price of $136.62 and a 200-day moving average price of $135.80. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock has a market capitalization of $32.00 billion, a P/E ratio of 50.76, a P/E/G ratio of 1.81 and a beta of 1.44. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week 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) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
About Live Nation Entertainment
(
Free Report)
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.
Recommended Stories
Before you consider Live Nation Entertainment, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Live Nation Entertainment wasn't on the list.
While Live Nation Entertainment currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
