IFM Investors Pty Ltd grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 30,486 shares of the company's stock after acquiring an additional 2,074 shares during the quarter. IFM Investors Pty Ltd's holdings in Live Nation Entertainment were worth $3,981,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp bought a new stake in Live Nation Entertainment in the fourth quarter worth $40,000. Private Trust Co. NA lifted its position in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after buying an additional 196 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after buying an additional 75 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Live Nation Entertainment in the fourth quarter worth $74,000. 74.52% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Live Nation Entertainment
In other news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.01% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on LYV. Wolfe Research raised 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. Sanford C. Bernstein began coverage on Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Roth Mkm reduced their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Benchmark reiterated a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, Guggenheim reiterated a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.
Check Out Our Latest Report on Live Nation Entertainment
Live Nation Entertainment Stock Up 0.6%
LYV traded up $0.91 on Thursday, hitting $144.47. The company had a trading volume of 1,614,240 shares, compared to its average volume of 2,339,258. The stock has a fifty day moving average price of $143.29 and a 200-day moving average price of $137.28. Live Nation Entertainment, Inc. has a 12-month low of $87.33 and a 12-month high of $157.75. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 49.31, a P/E/G ratio of 5.60 and a beta of 1.45.
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 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 business had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. Live Nation Entertainment's revenue was down 11.0% on a year-over-year basis. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Live Nation Entertainment Profile
(
Free Report)
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.
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