Envestnet Portfolio Solutions Inc. Has $1.25 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 65.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,590 shares of the company's stock after acquiring an additional 3,788 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Live Nation Entertainment were worth $1,252,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LYV. Measured Risk Portfolios Inc. purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $29,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth about $40,000. Smartleaf Asset Management LLC raised its holdings in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock valued at $65,000 after acquiring an additional 75 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $74,000. Finally, Optiver Holding B.V. grew its position in Live Nation Entertainment by 211.0% during the 4th quarter. Optiver Holding B.V. now owns 594 shares of the company's stock worth $77,000 after purchasing an additional 403 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

Live Nation Entertainment stock traded down $1.52 during mid-day trading on Wednesday, reaching $146.26. The company had a trading volume of 1,251,820 shares, compared to its average volume of 2,346,713. The company has a 50 day moving average of $139.28 and a 200-day moving average of $136.29. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. The firm has a market cap of $33.90 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 5.97 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) 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 the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company's revenue was down 11.0% on a year-over-year basis. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LYV. Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Guggenheim restated a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark reiterated a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $165.24.

Insider Activity 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 dated 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 now owns 189,456 shares in the company, valued at $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.72% of the stock is currently owned by corporate insiders.

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.