Cerity Partners LLC Makes New Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Cerity Partners LLC purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,502 shares of the company's stock, valued at approximately $796,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. DekaBank Deutsche Girozentrale lifted its holdings in shares of Live Nation Entertainment by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company's stock valued at $2,324,000 after purchasing an additional 117 shares in the last quarter. Hohimer Wealth Management LLC lifted its holdings in Live Nation Entertainment by 1.1% in the third quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company's stock valued at $956,000 after acquiring an additional 123 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Live Nation Entertainment by 1.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company's stock valued at $1,100,000 after acquiring an additional 130 shares during the period. J.P. Morgan Private Wealth Advisors LLC lifted its holdings in Live Nation Entertainment by 1.1% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company's stock valued at $1,094,000 after acquiring an additional 146 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in Live Nation Entertainment by 5.9% in the fourth quarter. Raymond James Trust N.A. now owns 2,628 shares of the company's stock valued at $246,000 after acquiring an additional 147 shares during the period. 74.52% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares of the company's stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.85% of the company's stock.

Live Nation Entertainment Trading Up 1.8 %

Shares of NYSE:LYV traded up $1.63 during trading on Tuesday, hitting $90.08. The company had a trading volume of 2,133,468 shares, compared to its average volume of 2,295,083. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 67.73 and a beta of 1.30. Live Nation Entertainment, Inc. has a one year low of $64.96 and a one year high of $107.24. The company has a fifty day simple moving average of $99.04 and a two-hundred day simple moving average of $91.54. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. As a group, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on LYV shares. Roth Capital raised Live Nation Entertainment from a "neutral" rating to a "buy" rating in a report on Thursday, January 11th. JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an "overweight" rating in a research report on Friday, February 23rd. TD Cowen reiterated a "buy" rating and set a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Morgan Stanley increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "overweight" rating in a research report on Friday, February 23rd. Finally, Rosenblatt Securities cut their target price on Live Nation Entertainment from $124.00 to $119.00 and set a "buy" rating for the company in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $116.30.

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.