Private Advisory Group LLC Invests $1.02 Million in Live Nation Entertainment, Inc. (NYSE:LYV)

Key Points

• Private Advisory Group LLC invested $1.02 million in Live Nation Entertainment by purchasing 7,772 shares during the 1st quarter of the year.
• Live Nation Entertainment's stock has received favorable ratings from several analysts, with a consensus rating of "Moderate Buy" and a target price averaging around $165.82.
• The company reported a loss of ($0.32) earnings per share for the last quarter, which was significantly below the consensus estimate of ($0.03).

Private Advisory Group LLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,772 shares of the company's stock, valued at approximately $1,015,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Gilbert & Cook Inc. raised its position in shares of Live Nation Entertainment by 1.4% during the 1st quarter. Gilbert & Cook Inc. now owns 5,538 shares of the company's stock worth $723,000 after acquiring an additional 75 shares in the last quarter. Utah Retirement Systems raised its position in shares of Live Nation Entertainment by 0.4% during the 4th quarter. Utah Retirement Systems now owns 26,195 shares of the company's stock worth $3,392,000 after acquiring an additional 100 shares in the last quarter. HM Payson & Co. raised its position in shares of Live Nation Entertainment by 9.5% during the 1st quarter. HM Payson & Co. now owns 1,150 shares of the company's stock worth $150,000 after acquiring an additional 100 shares in the last quarter. Mather Group LLC. raised its position in shares of Live Nation Entertainment by 6.7% during the 1st quarter. Mather Group LLC. now owns 1,724 shares of the company's stock worth $225,000 after acquiring an additional 108 shares in the last quarter. Finally, BTC Capital Management Inc. raised its position in shares of Live Nation Entertainment by 2.7% during 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 in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Live Nation Entertainment Price Performance

Shares of LYV traded down $1.53 during mid-day trading on Friday, hitting $146.17. The company's stock had a trading volume of 1,725,926 shares, compared to its average volume of 1,839,715. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 7.43. The firm has a 50-day simple moving average of $146.37 and a 200 day simple moving average of $139.49. The firm has a market capitalization of $33.88 billion, a P/E ratio of 49.89, a P/E/G ratio of 5.75 and a beta of 1.46. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LYV shares. Wolfe Research raised their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Sanford C. Bernstein started 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. Susquehanna set a $165.00 price target on Live Nation Entertainment and gave the stock a "positive" rating in a research note on Tuesday, June 10th. Finally, 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. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average price target of $165.82.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.01% of the stock is owned by corporate 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.