Apollon Wealth Management LLC acquired a new stake in shares of 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 (SEC). The fund acquired 2,968 shares of the company's stock, valued at approximately $388,000.
A number of other hedge funds have also bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $29,000. Wayfinding Financial LLC bought a new position in shares of Live Nation Entertainment in the first quarter worth about $30,000. Chilton Capital Management LLC bought a new position in shares of Live Nation Entertainment in the first quarter worth about $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $40,000. Finally, Private Trust Co. NA grew its holdings in shares of Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after purchasing an additional 196 shares during the last quarter. Institutional investors own 74.52% of the company's stock.
Insider Transactions at Live Nation Entertainment
In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the transaction, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.01% of the company's stock.
Live Nation Entertainment Stock Performance
Shares of NYSE LYV traded up $2.70 during mid-day trading on Wednesday, hitting $153.67. The stock had a trading volume of 2,223,804 shares, compared to its average volume of 2,351,407. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day moving average of $145.45 and a two-hundred day moving average of $138.38. The firm has a market cap of $35.62 billion, a PE ratio of 52.45, a PEG ratio of 5.85 and a beta of 1.45. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue for the quarter was down 11.0% compared to the same quarter last year. Research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have issued reports on LYV shares. Guggenheim reiterated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Roth Mkm dropped their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Benchmark reiterated a "buy" rating and set a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $165.24.
Check Out Our Latest Stock Analysis on LYV
Live Nation Entertainment Profile
(
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.
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