Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV boosted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,021 shares of the company’s stock after acquiring an additional 899 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Live Nation Entertainment were worth $780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth $40,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter worth about $42,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at approximately $44,000. Independence Bank of Kentucky acquired a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE LYV opened at $136.62 on Friday. The stock’s 50-day simple moving average is $127.81 and its 200-day simple moving average is $133.07. The firm has a market capitalization of $31.66 billion, a PE ratio of 50.23, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

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

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % 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 over the last ninety days. Insiders own 3.01% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. increased their target price 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. Susquehanna initiated coverage on Live Nation Entertainment in a research report on Monday, April 28th. They issued a “positive” rating and a $155.00 target price for the company. 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, Macquarie upped their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.07.

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.