Illinois Municipal Retirement Fund Buys New Shares in Live Nation Entertainment, Inc. (NYSE:LYV)

Illinois Municipal Retirement Fund purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,513 shares of the company's stock, valued at approximately $720,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $29,000. Murphy & Mullick Capital Management Corp purchased a new position in Live Nation Entertainment in the 4th quarter valued at $40,000. Smartleaf Asset Management LLC lifted 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 in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Live Nation Entertainment during the 4th quarter worth $74,000. Finally, Optiver Holding B.V. grew its holdings in shares of Live Nation Entertainment by 211.0% during the fourth quarter. Optiver Holding B.V. now owns 594 shares of the company's stock worth $77,000 after buying an additional 403 shares in the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Roth Mkm lowered their target price on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Guggenheim restated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Macquarie lifted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Finally, Benchmark restated a "buy" rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.01% of the stock is owned by company insiders.

Live Nation Entertainment Trading Up 0.1%

Live Nation Entertainment stock traded up $0.16 during trading on Friday, hitting $149.27. The company had a trading volume of 925,403 shares, compared to its average volume of 2,333,807. The stock has a market cap of $34.60 billion, a price-to-earnings ratio of 50.95, a price-to-earnings-growth ratio of 5.79 and a beta of 1.45. 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 1-year low of $87.33 and a 1-year high of $157.75. The company's 50 day simple moving average is $142.53 and its 200-day simple moving average is $137.02.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data 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 net margin of 4.28% and a return on equity of 125.77%. 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 previous year, the firm posted $0.60 earnings per share. The company's quarterly revenue was down 11.0% compared to the same quarter last year. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS 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.