Ground Swell Capital LLC Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Ground Swell Capital LLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,051 shares of the company's stock, valued at approximately $266,000.

A number of other hedge funds also recently bought and sold shares of LYV. Smartleaf Asset Management LLC raised its holdings in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company's stock valued at $65,000 after acquiring an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in Live Nation Entertainment by 19.0% during the fourth quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company's stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Western Pacific Wealth Management LP raised its holdings in Live Nation Entertainment by 10.4% in the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company's stock valued at $112,000 after acquiring an additional 82 shares during the last quarter. UMB Bank n.a. lifted its stake in Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company's stock worth $69,000 after purchasing an additional 93 shares in the last quarter. Finally, Gilbert & Cook Inc. grew its position in shares of Live Nation Entertainment by 1.7% in the fourth quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company's stock valued at $707,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LYV shares. Roth Mkm lowered their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Benchmark reissued a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Bank of America lifted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Morgan Stanley lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $162.07.

Live Nation Entertainment Stock Up 1.4 %

Shares of LYV opened at $136.62 on Friday. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $31.66 billion, a PE ratio of 50.23, a P/E/G ratio of 1.81 and a beta of 1.47. The company's 50-day simple moving average is $127.81 and its 200-day simple moving average is $132.95. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly 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). 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 analysts' expectations of $3.63 billion. During the same period in the prior year, the business earned $0.60 EPS. The business's quarterly revenue was down 11.0% on a year-over-year basis. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 52,624 shares in the company, 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. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last three months. 3.01% of the stock is owned by corporate insiders.

Live Nation Entertainment 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.

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