Retirement Planning Co of New England Inc. acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,145 shares of the company's stock, valued at approximately $672,000.
Other hedge funds have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. purchased a new position in Live Nation Entertainment during the 4th quarter worth $29,000. Wayfinding Financial LLC purchased a new position in shares of Live Nation Entertainment in the 1st quarter worth about $30,000. Chilton Capital Management LLC purchased a new position in shares of Live Nation Entertainment in the 1st quarter worth about $33,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment in the 4th quarter worth about $40,000. Finally, Private Trust Co. NA boosted its holdings in shares of Live Nation Entertainment by 94.2% in the 1st quarter. Private Trust Co. NA now owns 404 shares of the company's stock worth $53,000 after buying an additional 196 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price target on the stock. Wolfe Research boosted their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Guggenheim reissued a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Finally, Roth Mkm cut their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of "Moderate Buy" and an average price target of $165.24.
View Our Latest Research Report on LYV
Live Nation Entertainment Price Performance
Shares of LYV traded down $0.12 during midday trading on Friday, hitting $150.60. 1,470,834 shares of the company traded hands, compared to its average volume of 2,339,653. The stock has a 50-day moving average of $144.84 and a 200-day moving average of $137.88. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The firm has a market cap of $34.90 billion, a P/E ratio of 51.40, a PEG ratio of 5.76 and a beta of 1.45. 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 (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $3.38 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The company's quarterly revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Insider Buying and Selling at Live Nation Entertainment
In related news, EVP John Hopmans sold 34,808 shares of the company'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 value of $5,130,003.04. Following the transaction, the executive vice president directly owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.01% of the company's stock.
Live Nation Entertainment Profile
(
Free Report)
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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