Praxis Investment Management Inc. Grows Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

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

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its holdings in shares of Live Nation Entertainment by 17.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock worth $65,000 after purchasing an additional 75 shares during the last quarter. Utah Retirement Systems boosted 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 buying an additional 100 shares during the period. BTC Capital Management Inc. grew its holdings in Live Nation Entertainment by 2.7% in the 1st quarter. BTC Capital Management Inc. now owns 4,475 shares of the company's stock worth $584,000 after acquiring an additional 117 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Live Nation Entertainment by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock valued at $2,559,000 after acquiring an additional 143 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Live Nation Entertainment by 4.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,728 shares of the company's stock valued at $487,000 after acquiring an additional 154 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

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 owns 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.01% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America raised their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Wolfe Research boosted their target price 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. Macquarie upped their target price on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. Benchmark reiterated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Roth Mkm reduced their price objective on shares of 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. One equities research 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 currently has an average rating of "Moderate Buy" and an average target price of $165.24.

Live Nation Entertainment Trading Up 0.4%

NYSE:LYV opened at $148.92 on Friday. The firm has a market capitalization of $34.52 billion, a P/E ratio of 50.83, a PEG ratio of 5.90 and a beta of 1.44. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The company's 50-day simple moving average is $138.45 and its 200 day simple moving average is $136.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) 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 during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business's revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

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.

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