Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by R Squared Ltd

Key Points

• R Squared Ltd significantly increased its holdings in Live Nation Entertainment, raising its stake by 1,638.5% in the first quarter to a total of 2,260 shares valued at $295,000.
• Major institutional investors are actively purchasing shares of Live Nation, with over 74.52% of the company's stock now owned by such investors, reflecting strong market confidence.
• Analysts have set price targets for Live Nation's stock ranging from $160.00 to $185.00, indicating a generally positive outlook with multiple "buy" ratings among analysts.

R Squared Ltd boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1,638.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,260 shares of the company's stock after acquiring an additional 2,130 shares during the quarter. R Squared Ltd's holdings in Live Nation Entertainment were worth $295,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. bought a new position in Live Nation Entertainment in the 4th quarter worth approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment during the 1st quarter worth $30,000. Chilton Capital Management LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth $33,000. GW&K Investment Management LLC raised its position in Live Nation Entertainment by 690.2% in the 1st quarter. GW&K Investment Management LLC now owns 324 shares of the company's stock worth $42,000 after purchasing an additional 283 shares during the period. Finally, N.E.W. Advisory Services LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth $42,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Morgan Stanley set a $180.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, July 24th. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 target price on the stock. Wolfe Research boosted their price objective on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Roth Mkm reduced their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim restated a "buy" rating and set a $170.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $165.82.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president owned 189,456 shares of the company's stock, valued at approximately $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 at this link. Corporate insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Down 0.2%

NYSE LYV traded down $0.30 during trading on Wednesday, reaching $150.13. 396,256 shares of the company's stock traded hands, compared to its average volume of 2,479,387. Live Nation Entertainment, Inc. has a 12-month low of $89.69 and a 12-month high of $157.75. The firm has a market cap of $34.79 billion, a price-to-earnings ratio of 51.17, a price-to-earnings-growth ratio of 5.90 and a beta of 1.46. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The company's 50 day simple moving average is $146.65 and its two-hundred day simple moving average is $139.76.

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.