United Advisor Group LLC Buys Shares of 2,236 Live Nation Entertainment, Inc. (NYSE:LYV)

United Advisor Group LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,236 shares of the company's stock, valued at approximately $292,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in Live Nation Entertainment by 11.9% in the 4th quarter. Principal Securities Inc. now owns 5,701 shares of the company's stock valued at $738,000 after acquiring an additional 606 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Live Nation Entertainment by 3.3% during the fourth quarter. Sanctuary Advisors LLC now owns 16,780 shares of the company's stock worth $2,173,000 after buying an additional 532 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Live Nation Entertainment by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 26,093 shares of the company's stock worth $3,379,000 after buying an additional 1,177 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of Live Nation Entertainment in the 4th quarter worth $226,000. Finally, Handelsbanken Fonder AB raised its holdings in shares of Live Nation Entertainment by 24.7% during the 4th quarter. Handelsbanken Fonder AB now owns 3,807 shares of the company's stock worth $493,000 after acquiring an additional 755 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Down 1.9%

Shares of LYV stock traded down $2.82 on Tuesday, reaching $147.87. 2,578,914 shares of the stock were exchanged, compared to its average volume of 2,352,368. The company has a market capitalization of $34.27 billion, a price-to-earnings ratio of 50.47, a PEG ratio of 5.90 and a beta of 1.44. 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 business's 50 day moving average price is $138.90 and its 200 day moving average price is $136.21. Live Nation Entertainment, Inc. has a twelve month low of $87.33 and a twelve month high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its 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). The business had revenue of $3.38 billion for the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. Live Nation Entertainment's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYV shares. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Rosenblatt Securities cut their target price on 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. Sanford C. Bernstein started coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. Benchmark restated a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, Wolfe Research increased their target price on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $165.24.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president now directly owns 189,456 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.01% of the stock is currently owned by insiders.

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.