HB Wealth Management LLC Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• HB Wealth Management LLC increased its stake in Live Nation Entertainment by 131.3% in the first quarter, holding 4,115 shares valued at approximately $537,000.
• Live Nation Entertainment reported a loss of ($0.32) EPS for the last quarter, missing analysts' estimates by ($0.29), while revenues decreased by 11% year-over-year.
• Multiple brokerages have raised their price targets for Live Nation Entertainment, with Wolfe Research placing a target of $168.00, reflecting a growing optimism among analysts regarding the stock.

HB Wealth Management LLC boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 131.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,115 shares of the company's stock after purchasing an additional 2,336 shares during the quarter. HB Wealth Management LLC's holdings in Live Nation Entertainment were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Measured Risk Portfolios Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment during the first quarter worth $30,000. Chilton Capital Management LLC purchased a new stake in shares of Live Nation Entertainment during the 1st quarter valued at $33,000. GW&K Investment Management LLC boosted its position in shares of Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after purchasing an additional 283 shares in the last quarter. Finally, Private Trust Co. NA increased its position in Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock valued at $53,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

LYV traded down $1.53 during trading on Friday, hitting $146.17. The company's stock had a trading volume of 1,725,926 shares, compared to its average volume of 1,839,715. The firm has a market capitalization of $33.88 billion, a price-to-earnings ratio of 49.89, a P/E/G ratio of 5.69 and a beta of 1.46. The business's fifty day simple moving average is $146.37 and its 200 day simple moving average is $139.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. 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 issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business's revenue was down 11.0% on a year-over-year basis. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LYV. Wolfe Research boosted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Morgan Stanley set a $180.00 price target on shares of Live Nation Entertainment in a report on Thursday, July 24th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective on the stock. Roth Mkm lowered their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Guggenheim reissued a "buy" rating and issued a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.82.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.01% of the company's stock.

Live Nation Entertainment Company Profile

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.