Schonfeld Strategic Advisors LLC Has $15.03 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Schonfeld Strategic Advisors LLC boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 1,100.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,050 shares of the company's stock after purchasing an additional 106,386 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Live Nation Entertainment were worth $15,028,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. World Investment Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $38,000. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment in the fourth quarter worth $40,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter worth $42,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Benchmark restated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Rosenblatt Securities reduced their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a report on Friday. The Goldman Sachs Group raised their price objective 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. Finally, JPMorgan Chase & Co. upped their target price 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. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $159.13.

Insider Activity at Live Nation Entertainment

In other news, 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 value of $9,811,334.40. Following the transaction, the executive vice president now directly owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now directly owns 52,624 shares of the company's stock, valued at $6,470,120.80. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock worth $10,497,143. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Up 2.1 %

LYV traded up $2.77 during trading on Friday, reaching $134.11. 3,356,734 shares of the stock were exchanged, compared to its average volume of 2,236,462. The stock has a market cap of $31.39 billion, a P/E ratio of 49.31, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. 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's 50 day moving average price is $128.41 and its two-hundred day moving average price is $132.37. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75.

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

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.