Jacobs Levy Equity Management Inc. Decreases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Jacobs Levy Equity Management Inc. decreased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 994,598 shares of the company's stock after selling 14,780 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.43% of Live Nation Entertainment worth $128,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LYV. Murphy & Mullick Capital Management Corp bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at $40,000. Golden State Wealth Management LLC bought a new position in Live Nation Entertainment during the 4th quarter valued at about $42,000. Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth approximately $44,000. Independence Bank of Kentucky purchased a new position in shares of Live Nation Entertainment during the fourth quarter valued at approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Live Nation Entertainment during the fourth quarter valued at approximately $53,000. Institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Susquehanna started coverage on Live Nation Entertainment in a research report on Monday, April 28th. They issued a "positive" rating and a $155.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Bank of America increased their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Morgan Stanley upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.07.

Live Nation Entertainment Trading Up 1.4 %

Live Nation Entertainment stock opened at $136.62 on Friday. 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 firm's 50 day moving average price is $127.81 and its 200-day moving average price is $133.07. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The stock has a market cap of $31.66 billion, a P/E ratio of 50.23, a PEG ratio of 1.81 and a beta of 1.47.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced 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). The company had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm'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. On average, equities analysts predict 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, CAO Brian Capo sold 5,066 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,702 shares of company stock valued at $10,497,143. Insiders own 3.01% of the company's stock.

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.

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