9,966 Shares of Live Nation Entertainment, Inc. $LYV Purchased by Investment House LLC

Key Points

• Investment House LLC purchased 9,966 Live Nation shares worth approximately $1.69 million in the third quarter. Institutional investors collectively own 74.52% of the company.
• Analysts maintain a generally positive outlook, with 20 Buy ratings, two Holds, and three Sells. Live Nation has a “Moderate Buy” consensus rating and an average price target of $197.95.
• Live Nation’s latest quarterly results exceeded expectations, with adjusted earnings of $1.05 per share and revenue of $7.67 billion, up 9.4% year over year.

Investment House LLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,966 shares of the company's stock, valued at approximately $1,687,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in shares of Live Nation Entertainment by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company's stock valued at $1,692,151,000 after buying an additional 367,624 shares during the last quarter. Bank of America Corp DE acquired a new position in Live Nation Entertainment during the second quarter worth $1,221,398,000. Canada Pension Plan Investment Board bought a new stake in Live Nation Entertainment during the second quarter worth $859,018,000. Bessemer Group Inc. raised its position in Live Nation Entertainment by 25.8% during the first quarter. Bessemer Group Inc. now owns 2,319,123 shares of the company's stock worth $353,690,000 after acquiring an additional 475,373 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Live Nation Entertainment by 11.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,393,745 shares of the company's stock valued at $212,502,000 after acquiring an additional 143,432 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LYV has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Citigroup restated a "market outperform" rating on shares of Live Nation Entertainment in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $205.00 price objective on shares of Live Nation Entertainment in a research report on Friday, July 31st. BTIG Research reiterated a "buy" rating and set a $215.00 target price on shares of Live Nation Entertainment in a research note on Monday. Finally, Roth Capital set a $208.00 target price on Live Nation Entertainment in a report on Friday, July 31st. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $197.95.

Insider Activity

In related news, CAO Brian Capo sold 2,900 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.00, for a total transaction of $533,600.00. Following the completion of the sale, the chief accounting officer directly owned 8,655 shares of the company's stock, valued at approximately $1,592,520. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.89% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Stock Up 0.2%

NYSE:LYV opened at $174.74 on Friday. The firm's 50 day simple moving average is $174.16 and its 200 day simple moving average is $172.07. The company has a debt-to-equity ratio of 8.25, a current ratio of 0.85 and a quick ratio of 0.85. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $189.24. The company has a market cap of $41.17 billion, a PE ratio of -154.64 and a beta of 1.17.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.39. Live Nation Entertainment had a net margin of 0.34% and a return on equity of 54.61%. The firm had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned $0.41 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.06 earnings per share for the current year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a global live entertainment company that promotes, produces and operates concerts, music festivals and other live events. Through its Live Nation Concerts business, the company works with artists and manages event production, marketing and venue operations across a broad range of musical genres.

The company also operates Ticketmaster, a ticketing platform that provides ticket sales, distribution and related services for concerts, sports events, performing arts programs and other live entertainment.

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.