QRG Capital Management Inc. Has $2.35 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

QRG Capital Management Inc. raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,990 shares of the company's stock after purchasing an additional 1,747 shares during the quarter. QRG Capital Management Inc.'s holdings in Live Nation Entertainment were worth $2,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its stake in Live Nation Entertainment by 26.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 19,084 shares of the company's stock valued at $2,492,000 after buying an additional 3,949 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Live Nation Entertainment by 130.1% during the first quarter. Ritholtz Wealth Management now owns 5,516 shares of the company's stock valued at $720,000 after acquiring an additional 3,119 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Live Nation Entertainment by 4.3% in the 1st 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. Fifth Third Bancorp grew its holdings in shares of Live Nation Entertainment by 21.1% in the 1st quarter. Fifth Third Bancorp now owns 5,339 shares of the company's stock worth $697,000 after purchasing an additional 932 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $1,063,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Trading Up 0.4%

Live Nation Entertainment stock traded up $0.66 during mid-day trading on Friday, hitting $148.92. The stock had a trading volume of 6,524,635 shares, compared to its average volume of 2,349,177. The stock has a 50-day simple moving average of $138.06 and a two-hundred day simple moving average of $136.03. 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 stock has a market capitalization of $34.52 billion, a PE ratio of 50.83, a P/E/G ratio of 5.88 and a beta of 1.44. Live Nation Entertainment, Inc. has a 12 month low of $87.33 and a 12 month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. The business had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's revenue for the quarter was down 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction on Friday, May 16th. The shares were 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 legal filing with the SEC, which is accessible through this hyperlink. 3.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on LYV shares. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Macquarie increased their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Rosenblatt Securities dropped their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, 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 note on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $165.24.

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.