Voloridge Investment Management LLC Purchases Shares of 682,579 Live Nation Entertainment, Inc. (NYSE:LYV)

Voloridge Investment Management LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 682,579 shares of the company’s stock, valued at approximately $88,394,000. Voloridge Investment Management LLC owned about 0.29% of Live Nation Entertainment at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Woodline Partners LP bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $7,249,000. ValueAct Holdings L.P. increased its holdings in shares of Live Nation Entertainment by 4.6% in the fourth quarter. ValueAct Holdings L.P. now owns 1,061,466 shares of the company’s stock worth $137,460,000 after purchasing an additional 46,816 shares during the last quarter. Vident Advisory LLC increased its holdings in shares of Live Nation Entertainment by 68.0% in the fourth quarter. Vident Advisory LLC now owns 3,199 shares of the company’s stock worth $414,000 after purchasing an additional 1,295 shares during the last quarter. Twinbeech Capital LP bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth about $18,705,000. Finally, Tidal Investments LLC increased its holdings in shares of Live Nation Entertainment by 1.3% in the fourth quarter. Tidal Investments LLC now owns 24,980 shares of the company’s stock worth $3,235,000 after purchasing an additional 312 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Susquehanna assumed coverage on Live Nation Entertainment in a research note on Monday, April 28th. They set a “positive” rating and a $155.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Roth Mkm reduced their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.07.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $148.41 on Tuesday. The company has a market capitalization of $34.40 billion, a price-to-earnings ratio of 54.56, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. 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. The firm has a 50 day moving average of $129.91 and a 200 day moving average of $134.33.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data 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 during 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 business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was 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 of the company’s stock, valued at approximately $6,470,120.80. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at approximately $30,356,768.40. The trade was a 24.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 3.01% of the company’s stock.

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.