Cetera Investment Advisers Has $1.47 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Cetera Investment Advisers increased its stake in Live Nation Entertainment by 27.7% in Q1, owning 11,225 shares valued at approximately $1.47 million.
• Insiders, including EVP John Hopmans, have been active, with Hopmans selling 34,808 shares recently, reducing his ownership by 15.52%.
• Live Nation's stock has seen a target price increase with Benchmark and Morgan Stanley both setting targets at $180 and featuring a "Moderate Buy" consensus rating.

Cetera Investment Advisers increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 27.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,225 shares of the company's stock after buying an additional 2,435 shares during the period. Cetera Investment Advisers' holdings in Live Nation Entertainment were worth $1,466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. boosted its position in Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock valued at $723,000 after buying an additional 75 shares during the period. Utah Retirement Systems lifted its position in Live Nation Entertainment by 0.4% during the 4th 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 period. HM Payson & Co. raised its holdings in Live Nation Entertainment by 9.5% in the first quarter. HM Payson & Co. now owns 1,150 shares of the company's stock worth $150,000 after buying an additional 100 shares during the last quarter. Mather Group LLC. raised its holdings in Live Nation Entertainment by 6.7% in the first quarter. Mather Group LLC. now owns 1,724 shares of the company's stock worth $225,000 after buying an additional 108 shares during the last quarter. Finally, BTC Capital Management Inc. raised its holdings in Live Nation Entertainment by 2.7% in the first quarter. BTC Capital Management Inc. now owns 4,475 shares of the company's stock worth $584,000 after buying an additional 117 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Up 2.7%

NYSE:LYV traded up $4.16 during trading hours on Tuesday, hitting $158.63. The stock had a trading volume of 1,906,911 shares, compared to its average volume of 2,129,774. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. Live Nation Entertainment, Inc. has a 1-year low of $91.52 and a 1-year high of $159.00. The business has a 50 day simple moving average of $148.16 and a two-hundred day simple moving average of $140.25. The company has a market cap of $37.19 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.97 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 105.85% and a net margin of 3.88%. The business's revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 earnings per share. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Wall Street Analyst Weigh In

LYV has been the subject of several research reports. Rosenblatt Securities decreased their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Benchmark upped their target price on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday. Roth Mkm decreased their price target on shares of 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. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target on the stock. Finally, Wolfe Research increased their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average target price of $167.41.

Insider Buying and Selling

In other news, EVP John Hopmans sold 34,808 shares of the firm'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 completion of the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.72% of the company's stock.

Live Nation Entertainment 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.