Sig Brokerage LP Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Sig Brokerage LP purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 11,142 shares of the company's stock, valued at approximately $1,443,000.

Several other large investors have also made changes to their positions in the company. Rafferty Asset Management LLC boosted its position in Live Nation Entertainment by 10.0% in the fourth quarter. Rafferty Asset Management LLC now owns 14,822 shares of the company's stock valued at $1,919,000 after buying an additional 1,342 shares in the last quarter. ProShare Advisors LLC boosted its position in Live Nation Entertainment by 1.8% in the fourth quarter. ProShare Advisors LLC now owns 35,263 shares of the company's stock valued at $4,567,000 after buying an additional 637 shares in the last quarter. Quantinno Capital Management LP boosted its position in Live Nation Entertainment by 3.9% in the fourth quarter. Quantinno Capital Management LP now owns 29,518 shares of the company's stock valued at $3,823,000 after buying an additional 1,121 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in Live Nation Entertainment by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 19,408 shares of the company's stock valued at $2,559,000 after buying an additional 143 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its position in Live Nation Entertainment by 20.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 6,711 shares of the company's stock valued at $869,000 after buying an additional 1,121 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYV. Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Rosenblatt Securities dropped 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 research note on Friday, May 2nd. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $162.07.

Live Nation Entertainment Stock Up 0.5%

LYV traded up $0.73 during midday trading on Monday, hitting $148.41. The company had a trading volume of 1,624,214 shares, compared to its average volume of 2,242,926. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 54.56, a PEG ratio of 1.81 and a beta of 1.47. The stock's 50 day moving average price is $129.91 and its 200 day moving average price is $134.33. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 500 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,702 shares of company stock worth $10,497,143. 3.01% of the stock is owned by insiders.

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.