Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Praxis Investment Management Inc.

Praxis Investment Management Inc. increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 45.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,560 shares of the company's stock after purchasing an additional 1,730 shares during the quarter. Praxis Investment Management Inc.'s holdings in Live Nation Entertainment were worth $726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LYV. Smartleaf Asset Management LLC grew its holdings in Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock valued at $65,000 after purchasing an additional 75 shares during the last quarter. Utah Retirement Systems grew its stake in Live Nation Entertainment by 0.4% in 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 last quarter. BTC Capital Management Inc. increased its holdings in Live Nation Entertainment by 2.7% during the 1st quarter. BTC Capital Management Inc. now owns 4,475 shares of the company's stock valued at $584,000 after acquiring an additional 117 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Live Nation Entertainment by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock worth $2,559,000 after acquiring an additional 143 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Live Nation Entertainment by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company's stock valued at $487,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. Benchmark reissued a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Roth Mkm reduced their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Wolfe Research increased their price objective 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. Finally, Guggenheim reissued a "buy" rating and issued a $170.00 target price on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average price target of $165.24.

Live Nation Entertainment Trading Down 1.0%

Shares of LYV traded down $1.52 during mid-day trading on Wednesday, hitting $146.26. The company had a trading volume of 1,251,822 shares, compared to its average volume of 2,349,586. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75. The business's 50-day simple moving average is $139.28 and its 200-day simple moving average is $136.29. The stock has a market cap of $33.90 billion, a PE ratio of 49.92, a P/E/G ratio of 5.86 and a beta of 1.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results 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 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 analysts' expectations of $3.63 billion. During the same period in the prior year, the business earned $0.60 EPS. The business's revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP John Hopmans sold 34,808 shares of the business'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 now owns 189,456 shares in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.01% 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.