Victory Capital Management Inc. Boosts Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Victory Capital Management Inc. grew its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 26.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 144,811 shares of the company's stock after purchasing an additional 29,855 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Live Nation Entertainment worth $18,909,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in Live Nation Entertainment by 46.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,804,375 shares of the company's stock worth $366,195,000 after acquiring an additional 884,745 shares during the period. Sumitomo Life Insurance Co. bought a new position in Live Nation Entertainment in the 1st quarter worth approximately $519,000. Apollon Wealth Management LLC bought a new position in Live Nation Entertainment in the 1st quarter worth approximately $388,000. Hohimer Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the first quarter valued at $985,000. Finally, Signaturefd LLC increased its holdings in Live Nation Entertainment by 14.5% in the 1st quarter. Signaturefd LLC now owns 1,071 shares of the company's stock valued at $140,000 after buying an additional 136 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP John Hopmans sold 34,808 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 189,456 shares of the company's stock, valued at $27,922,025.28. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Price Performance

Shares of LYV traded up $0.06 during midday trading on Friday, hitting $152.95. The company's stock had a trading volume of 1,202,734 shares, compared to its average volume of 1,944,418. The stock has a market capitalization of $35.45 billion, a price-to-earnings ratio of 52.20, a price-to-earnings-growth ratio of 5.95 and a beta of 1.45. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 7.43. The company's fifty day simple moving average is $145.95 and its two-hundred day simple moving average is $138.87.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. 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. Rosenblatt Securities lowered their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Roth Mkm decreased their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wolfe Research raised their price target on Live Nation Entertainment from $160.00 to $168.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Sanford C. Bernstein initiated coverage on Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an "outperform" rating and a $185.00 price objective for the company. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $166.12.

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.