Whipplewood Advisors LLC Increases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Whipplewood Advisors LLC lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5,829.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,846 shares of the company's stock after buying an additional 2,798 shares during the quarter. Whipplewood Advisors LLC's holdings in Live Nation Entertainment were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new position in Live Nation Entertainment during the 4th quarter worth $837,000. Blue Trust Inc. grew its position in shares of Live Nation Entertainment by 21.7% during the 4th quarter. Blue Trust Inc. now owns 644 shares of the company's stock worth $83,000 after buying an additional 115 shares in the last quarter. Caprock Group LLC increased its stake in shares of Live Nation Entertainment by 17.0% during the fourth quarter. Caprock Group LLC now owns 5,493 shares of the company's stock valued at $711,000 after buying an additional 800 shares during the period. Independence Bank of Kentucky bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $45,000. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Live Nation Entertainment by 19.6% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,294 shares of the company's stock valued at $815,000 after purchasing an additional 1,031 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Price Performance

LYV stock traded up $3.69 during trading on Wednesday, hitting $140.33. The stock had a trading volume of 4,161,993 shares, compared to its average volume of 2,298,949. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The company's 50-day moving average price is $133.99 and its two-hundred day moving average price is $135.54. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $32.52 billion, a P/E ratio of 51.59, a PEG ratio of 1.81 and a beta of 1.44.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. The business's revenue was down 11.0% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company's stock, valued at approximately $6,470,120.80. This represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,374 shares of company stock valued at $5,815,812 in the last 90 days. 2.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Macquarie upped their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Susquehanna began coverage on shares of Live Nation Entertainment in a research note on Monday, April 28th. They set a "positive" rating and a $155.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities cut their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and an average target price of $163.50.

About Live Nation Entertainment

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.