Ellevest Inc. Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Ellevest Inc. bought a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,262 shares of the company’s stock, valued at approximately $293,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Amundi raised its stake in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after buying an additional 39,302 shares during the period. Wealthfront Advisers LLC boosted its position in Live Nation Entertainment by 595.3% during the fourth quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock worth $5,140,000 after purchasing an additional 33,980 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth about $226,000. Aviva PLC raised its position in shares of Live Nation Entertainment by 1,524.1% in the fourth quarter. Aviva PLC now owns 97,057 shares of the company’s stock valued at $12,569,000 after purchasing an additional 91,081 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock worth $132,088,000 after buying an additional 48,949 shares during the period. Institutional investors own 74.52% of the company’s stock.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment 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 completion of the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was 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 owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 in the last 90 days. Company insiders own 3.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on LYV. 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 report on Friday, February 21st. Susquehanna started coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They issued a “positive” rating and a $155.00 price target on the stock. Roth Mkm decreased their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Macquarie lifted their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.07.

Live Nation Entertainment Trading Up 1.4 %

NYSE:LYV opened at $136.62 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a market capitalization of $31.66 billion, a P/E ratio of 50.23, a PEG ratio of 1.81 and a beta of 1.47. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a fifty day simple moving average of $127.81 and a 200-day simple moving average of $133.07.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share 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 company had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the business posted $0.60 earnings per share. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.