Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 31.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 407,447 shares of the company's stock after acquiring an additional 97,664 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Live Nation Entertainment worth $53,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in LYV. Measured Risk Portfolios Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $29,000. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment in the 1st quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $40,000. Finally, Private Trust Co. NA increased its position in shares of Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after acquiring an additional 196 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 sale, the executive vice president owned 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded down $0.55 during midday trading on Friday, reaching $143.91. The company had a trading volume of 1,596,436 shares, compared to its average volume of 2,339,987. The company has a market capitalization of $33.35 billion, a P/E ratio of 49.12, a P/E/G ratio of 5.58 and a beta of 1.45. Live Nation Entertainment, Inc. has a 12-month low of $87.33 and a 12-month high of $157.75. The firm's fifty day simple moving average is $143.75 and its 200-day simple moving average is $137.47. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The business 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 firm's revenue was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LYV. Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target on the stock. Rosenblatt Securities cut their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wolfe Research increased their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Guggenheim reaffirmed a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.24.

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.