Transcend Capital Advisors LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Transcend Capital Advisors LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,153 shares of the company's stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LYV. Robeco Institutional Asset Management B.V. bought a new position in shares of Live Nation Entertainment in the first quarter valued at $1,153,000. Sequoia Financial Advisors LLC raised its position in shares of Live Nation Entertainment by 7.9% during the first quarter. Sequoia Financial Advisors LLC now owns 2,831 shares of the company's stock worth $370,000 after purchasing an additional 207 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of Live Nation Entertainment by 120.9% during the first quarter. Golden State Wealth Management LLC now owns 709 shares of the company's stock valued at $93,000 after purchasing an additional 388 shares during the last quarter. Spire Wealth Management boosted its position in shares of Live Nation Entertainment by 12.3% in the 1st quarter. Spire Wealth Management now owns 4,727 shares of the company's stock valued at $617,000 after purchasing an additional 517 shares during the period. Finally, Invesco LLC increased its stake in Live Nation Entertainment by 156.5% in the 1st quarter. Invesco LLC now owns 4,547 shares of the company's stock worth $594,000 after purchasing an additional 2,774 shares in the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction dated 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 transaction, the executive vice president owned 189,456 shares in the company, 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 SEC, which can be accessed through the SEC website. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

LYV stock traded up $0.16 during mid-day trading on Thursday, reaching $149.27. 925,403 shares of the stock traded hands, compared to its average volume of 2,332,447. The firm has a market capitalization of $34.60 billion, a PE ratio of 50.95, a P/E/G ratio of 5.81 and a beta of 1.45. The business has a 50-day moving average of $141.88 and a two-hundred day moving average of $136.86. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The firm's revenue was down 11.0% compared to the same quarter last year. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Susquehanna set a $165.00 target price on shares of Live Nation Entertainment and gave the stock a "positive" rating in a report on Tuesday, June 10th. Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Rosenblatt Securities lowered their target price 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. Guggenheim reaffirmed a "buy" rating and issued a $170.00 price target on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Finally, Roth Mkm lowered their price target on 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. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

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.