18,837 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Lmcg Investments LLC

Lmcg Investments LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,837 shares of the company's stock, valued at approximately $1,763,000.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC increased its stake in shares of Live Nation Entertainment by 6.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company's stock valued at $901,000 after purchasing an additional 647 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Live Nation Entertainment by 8.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,270 shares of the company's stock valued at $1,600,000 after purchasing an additional 1,425 shares in the last quarter. Park Avenue Securities LLC purchased a new position in shares of Live Nation Entertainment in the 3rd quarter valued at about $507,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company's stock valued at $1,100,000 after purchasing an additional 130 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Live Nation Entertainment by 35.7% in the 3rd quarter. Fifth Third Bancorp now owns 3,272 shares of the company's stock valued at $272,000 after purchasing an additional 860 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

LYV has been the subject of several research reports. Redburn Atlantic upgraded Live Nation Entertainment from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $114.00 to $115.00 in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $120.00 to $121.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Morgan Stanley boosted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Friday, February 23rd. TD Cowen reiterated a "buy" rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Finally, Oppenheimer boosted their target price on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and an average target price of $116.83.

Live Nation Entertainment Trading Up 0.3 %

LYV traded up $0.24 during trading hours on Tuesday, reaching $95.83. The company's stock had a trading volume of 1,381,851 shares, compared to its average volume of 2,275,155. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The stock has a market cap of $22.18 billion, a PE ratio of 91.27, a P/E/G ratio of 1.96 and a beta of 1.34. The business's 50-day moving average is $98.64 and its 200-day moving average is $92.65. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.92 and a quick ratio of 0.92.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm had revenue of $3.80 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the prior year, the business earned ($0.25) earnings per share. The company's quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction 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 sale, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.85% of the company's stock.

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.