North Star Asset Management Inc. Has $10.15 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

North Star Asset Management Inc. lowered its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,412 shares of the company’s stock after selling 91 shares during the period. North Star Asset Management Inc.’s holdings in Live Nation Entertainment were worth $10,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LYV. Measured Risk Portfolios Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $40,000. Golden State Wealth Management LLC bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $42,000. Independence Bank of Kentucky bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 0.5%

LYV opened at $145.11 on Friday. The stock has a market capitalization of $33.63 billion, a P/E ratio of 53.35, a P/E/G ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The firm’s fifty day simple moving average is $132.00 and its 200 day simple moving average is $134.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $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. In the last ninety days, insiders have sold 103,510 shares of company stock valued at $15,627,146. 3.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYV. Rosenblatt Securities reduced their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Morgan Stanley raised their price objective 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. Roth Mkm reduced their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $162.07.

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.