Stratos Wealth Partners LTD. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,086 shares of the company's stock, valued at approximately $272,000.
Several other institutional investors and hedge funds also recently made changes to their positions in LYV. Measured Risk Portfolios Inc. acquired a new position in Live Nation Entertainment in the 4th quarter worth $29,000. Wayfinding Financial LLC acquired a new position in Live Nation Entertainment in the 1st quarter worth $30,000. Chilton Capital Management LLC acquired a new position in Live Nation Entertainment in the 1st quarter worth $33,000. Murphy & Mullick Capital Management Corp acquired a new position in Live Nation Entertainment in the 4th quarter worth $40,000. Finally, Private Trust Co. NA boosted its stake in 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 purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.
Insider Buying and Selling
In related news, EVP John Hopmans sold 34,808 shares of the company's stock in a transaction dated 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 owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.01% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Rosenblatt Securities reduced their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. 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 research report on Tuesday, June 10th. Susquehanna set a $165.00 price target on shares of Live Nation Entertainment and gave the stock a "positive" rating in a research report on Tuesday, June 10th. Guggenheim reissued a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 18th. Finally, Benchmark reissued a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and an average target price of $165.24.
Get Our Latest Report on Live Nation Entertainment
Live Nation Entertainment Stock Performance
LYV traded up $2.82 on Thursday, reaching $151.41. The company had a trading volume of 854,545 shares, compared to its average volume of 2,333,167. Live Nation Entertainment, Inc. has a fifty-two week low of $87.33 and a fifty-two week high of $157.75. The stock has a market cap of $35.09 billion, a P/E ratio of 51.65, a P/E/G ratio of 5.66 and a beta of 1.45. The company's fifty day moving average is $144.52 and its 200 day moving average is $137.75. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current 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) 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 company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company posted $0.60 EPS. The firm's quarterly revenue was down 11.0% on a year-over-year basis. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.
About Live Nation Entertainment
(
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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