Exchange Traded Concepts LLC Has $2.49 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Exchange Traded Concepts LLC boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 26.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,084 shares of the company's stock after purchasing an additional 3,949 shares during the period. Exchange Traded Concepts LLC's holdings in Live Nation Entertainment were worth $2,492,000 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. Independent Franchise Partners LLP boosted its holdings in Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the last quarter. Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $259,000,000. Norges Bank bought a new position in shares of Live Nation Entertainment in the 4th quarter valued at about $255,955,000. Jericho Capital Asset Management L.P. raised its holdings in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock worth $415,447,000 after acquiring an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Live Nation Entertainment during the fourth quarter valued at approximately $88,394,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Insiders Place Their Bets

In other news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction dated Friday, May 16th. The stock was 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 now directly owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.01% of the company's stock.

Live Nation Entertainment Trading Up 1.7%

NYSE:LYV traded up $2.54 during trading hours on Thursday, hitting $148.13. 3,994,892 shares of the company were exchanged, compared to its average volume of 2,332,476. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 5.77 and a beta of 1.44. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The company has a fifty day simple moving average of $137.68 and a 200 day simple moving average of $135.95. 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 (NYSE:LYV - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the business earned $0.60 earnings per share. Live Nation Entertainment's revenue was down 11.0% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on LYV. Macquarie boosted their price target 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. 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. Guggenheim reiterated a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price for the company. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.24.

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.