Hohimer Wealth Management LLC Makes New $985,000 Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Hohimer Wealth Management LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 7,544 shares of the company's stock, valued at approximately $985,000.

Other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new stake in Live Nation Entertainment in the 1st quarter valued at approximately $1,153,000. Praxis Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 45.2% in the first quarter. Praxis Investment Management Inc. now owns 5,560 shares of the company's stock worth $726,000 after acquiring an additional 1,730 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Live Nation Entertainment during the first quarter valued at $3,081,000. Highland Capital Management LLC purchased a new stake in Live Nation Entertainment during the 1st quarter worth about $1,170,000. Finally, Transcend Capital Advisors LLC acquired a new position in Live Nation Entertainment in the 1st quarter valued at about $281,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Hopmans sold 34,808 shares of the business'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 sale, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYV. Roth Mkm cut their price objective on shares of 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. Benchmark reissued a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Wolfe Research lifted their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. 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 target price on the stock. Finally, Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the company a "positive" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

Live Nation Entertainment Stock Up 3.2%

Shares of NYSE:LYV traded up $4.56 during midday trading on Monday, reaching $148.50. The company had a trading volume of 2,271,692 shares, compared to its average volume of 2,570,656. The stock has a market capitalization of $34.42 billion, a P/E ratio of 50.68, a PEG ratio of 5.58 and a beta of 1.45. The stock's fifty day moving average price is $143.75 and its 200-day moving average price is $137.49. 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, Inc. has a one year low of $87.33 and a one year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its 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). The company 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 business's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.