8,958 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Purchased by Highland Capital Management LLC

Highland Capital Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,958 shares of the company's stock, valued at approximately $1,170,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its position in Live Nation Entertainment by 17.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after purchasing an additional 75 shares in the last quarter. Utah Retirement Systems increased its position in Live Nation Entertainment by 0.4% during the 4th quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after purchasing an additional 100 shares in the last quarter. BTC Capital Management Inc. increased its position in Live Nation Entertainment by 2.7% during the 1st quarter. BTC Capital Management Inc. now owns 4,475 shares of the company's stock worth $584,000 after purchasing an additional 117 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Live Nation Entertainment by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock worth $2,559,000 after purchasing an additional 143 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Live Nation Entertainment by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company's stock valued at $487,000 after buying an additional 154 shares during the period. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on LYV shares. Guggenheim restated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Wolfe Research lifted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Roth Mkm lowered their price target 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. Benchmark restated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $165.24.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $149.97 on Friday. The firm has a market capitalization of $34.76 billion, a P/E ratio of 51.18, a P/E/G ratio of 5.98 and a beta of 1.44. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The business's 50-day simple moving average is $140.54 and its 200-day simple moving average is $136.57.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 4.28% and a return on equity of 125.77%. The business's revenue for the quarter was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.01% of the stock is currently owned by corporate 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.

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