Vise Technologies Inc. Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Vise Technologies Inc. purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,579 shares of the company's stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Independent Franchise Partners LLP increased its position in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock valued at $607,871,000 after acquiring an additional 3,168,210 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Live Nation Entertainment during the fourth quarter valued at about $259,000,000. Norges Bank acquired a new stake in shares of Live Nation Entertainment during the fourth quarter valued at about $255,955,000. Jericho Capital Asset Management L.P. grew its holdings in shares of Live Nation Entertainment by 32.0% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after purchasing an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $88,394,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded up $1.06 on Friday, reaching $137.21. 6,715,548 shares of the company were exchanged, compared to its average volume of 2,270,610. The firm has a market cap of $31.80 billion, a price-to-earnings ratio of 50.44, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a 50-day moving average of $133.59 and a 200-day moving average of $135.47. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data 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 3.90% and a return on equity of 139.09%. The business had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the company posted $0.60 earnings per share. Live Nation Entertainment's revenue was down 11.0% on a year-over-year basis. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the firm'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 transaction of $5,130,003.04. Following the completion of the sale, the executive vice president now owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,374 shares of company stock worth $5,815,812. Company insiders own 3.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LYV shares. Roth Mkm dropped their price objective on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Susquehanna started coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They issued a "positive" rating and a $155.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Rosenblatt Securities dropped their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $162.07.

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.