Pittenger & Anderson Inc. Has $5.85 Million Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Pittenger & Anderson Inc. raised its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,809 shares of the company's stock after purchasing an additional 4,221 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Live Nation Entertainment were worth $5,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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 about $29,000. Wayfinding Financial LLC acquired a new position in shares of Live Nation Entertainment during the 1st quarter worth about $30,000. Chilton Capital Management LLC acquired a new position in shares of Live Nation Entertainment during the 1st quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth about $40,000. Finally, Private Trust Co. NA lifted its position in shares of Live Nation Entertainment by 94.2% during the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Down 0.4%

NYSE:LYV traded down $0.55 during trading hours on Friday, hitting $143.91. 1,596,436 shares of the stock were exchanged, compared to its average volume of 2,339,987. The company's 50 day moving average is $143.75 and its two-hundred day moving average is $137.47. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. The company has a market capitalization of $33.35 billion, a P/E ratio of 49.12, a price-to-earnings-growth ratio of 5.58 and a beta of 1.45.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the company posted $0.60 EPS. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LYV has been the subject of several research analyst reports. Rosenblatt Securities cut their price objective on 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 boosted their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Sanford C. Bernstein initiated coverage on 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. Guggenheim restated a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Roth Mkm lowered their price target 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. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction on 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 transaction, the executive vice president owned 189,456 shares of the company's stock, valued at $27,922,025.28. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.01% of the stock is currently owned by company insiders.

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.