GAMMA Investing LLC Grows Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

GAMMA Investing LLC boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 16,161.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 511,090 shares of the company's stock after buying an additional 507,947 shares during the period. GAMMA Investing LLC owned approximately 0.22% of Live Nation Entertainment worth $66,738,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of LYV. Smartleaf Asset Management LLC boosted its holdings in Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock valued at $65,000 after purchasing an additional 75 shares during the period. SOA Wealth Advisors LLC. lifted its stake in Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company's stock valued at $65,000 after purchasing an additional 80 shares during the last quarter. Utah Retirement Systems raised its stake in shares of Live Nation Entertainment by 0.4% during the fourth quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock valued at $3,392,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Live Nation Entertainment by 21.7% during the fourth quarter. Blue Trust Inc. now owns 644 shares of the company's stock valued at $83,000 after acquiring an additional 115 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Live Nation Entertainment by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock worth $2,559,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction 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 now owns 189,456 shares of the company's stock, 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 SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,374 shares of company stock worth $5,815,812. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Trading Up 2.7%

Live Nation Entertainment stock traded up $3.69 during midday trading on Wednesday, reaching $140.33. The stock had a trading volume of 4,161,993 shares, compared to its average volume of 2,298,948. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of 51.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. The company has a fifty day moving average of $133.99 and a 200 day moving average of $135.54.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The business's revenue was down 11.0% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on LYV. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Macquarie boosted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research report on Wednesday. They issued an "outperform" rating and a $185.00 target price for the company. Bank of America raised their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and an average target price of $163.50.

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.