Alps Advisors Inc. Invests $1.02 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Alps Advisors Inc. acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 7,800 shares of the company's stock, valued at approximately $1,019,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Independent Franchise Partners LLP raised its position in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after acquiring an additional 3,168,210 shares in the last quarter. Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at $259,000,000. Norges Bank acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at $255,955,000. Jericho Capital Asset Management L.P. grew its stake in shares of Live Nation Entertainment by 32.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after acquiring an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at about $88,394,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LYV. Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Roth Mkm dropped their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wolfe Research raised their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective for the company. 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 presently has an average rating of "Moderate Buy" and an average price target of $165.24.

Insiders Place Their Bets

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 transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Down 0.5%

NYSE LYV traded down $0.70 during mid-day trading on Tuesday, hitting $147.76. The company's stock had a trading volume of 318,688 shares, compared to its average volume of 2,331,835. The company's 50 day simple moving average is $143.75 and its 200 day simple moving average is $137.49. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. 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 firm has a market capitalization of $34.25 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 5.58 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued 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). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business posted $0.60 earnings per share. Live Nation Entertainment's revenue was down 11.0% on a year-over-year basis. Analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

About Live Nation Entertainment

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.