New Age Alpha Advisors LLC Raises Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• New Age Alpha Advisors LLC has increased its holdings in Live Nation Entertainment by 163.2%, now owning 19,392 shares valued at approximately $2.53 million.
• Live Nation's stock has seen significant interest from institutional investors, with 74.52% of the company's shares owned by hedge funds.
• Analysts have a generally positive outlook on the stock, with the average price target at $165.94 and multiple upgrades indicating a strong buy sentiment.

New Age Alpha Advisors LLC lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 163.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,392 shares of the company's stock after buying an additional 12,023 shares during the period. New Age Alpha Advisors LLC's holdings in Live Nation Entertainment were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYV. Independent Franchise Partners LLP lifted its stake in shares of Live Nation Entertainment by 207.6% in the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after buying an additional 3,168,210 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Live Nation Entertainment by 46.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after purchasing an additional 884,745 shares during the last quarter. Jericho Capital Asset Management L.P. increased its position 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 purchasing an additional 777,105 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $88,394,000. Finally, Capital World Investors increased its position in Live Nation Entertainment by 54.2% during the fourth quarter. Capital World Investors now owns 1,707,284 shares of the company's stock worth $221,093,000 after purchasing an additional 599,784 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LYV. Benchmark raised their price objective 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. Sanford C. Bernstein initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price objective for the company. Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wolfe Research lifted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Roth Mkm dropped their price target 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. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $165.94.

Live Nation Entertainment Stock Up 3.4%

Shares of LYV stock traded up $4.97 during trading on Friday, reaching $153.24. The company's stock had a trading volume of 3,917,188 shares, compared to its average volume of 1,975,276. Live Nation Entertainment, Inc. has a 1-year low of $90.69 and a 1-year high of $157.75. The stock's 50-day moving average price is $147.40 and its 200 day moving average price is $140.01. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $35.52 billion, a price-to-earnings ratio of 66.34, a P/E/G ratio of 4.90 and a beta of 1.46.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a return on equity of 108.31% and a net margin of 3.88%. The firm had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $6.93 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm's revenue was up 16.3% compared to the same quarter last year. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Transactions at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment 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 in the company, valued at $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 available through this hyperlink. 3.01% of the stock is owned by corporate insiders.

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.