Edgestream Partners L.P. Purchases 46,602 Shares of Live Nation Entertainment, Inc. $LYV

Edgestream Partners L.P. lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1,020.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,171 shares of the company’s stock after buying an additional 46,602 shares during the quarter. Edgestream Partners L.P.’s holdings in Live Nation Entertainment were worth $7,804,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Axxcess Wealth Management LLC increased its holdings in shares of Live Nation Entertainment by 4.9% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock worth $228,000 after purchasing an additional 75 shares during the period. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% during the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. increased its stake in Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock worth $272,000 after acquiring an additional 80 shares during the period. Sumitomo Life Insurance Co. lifted its position in shares of Live Nation Entertainment by 1.2% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares during the period. Finally, Root Financial Partners LLC grew its holdings in shares of Live Nation Entertainment by 37.4% during the 4th quarter. Root Financial Partners LLC now owns 312 shares of the company’s stock worth $44,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Live Nation Entertainment from $199.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wolfe Research upped their price target on shares of Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. The Goldman Sachs Group lifted their price objective on shares of Live Nation Entertainment from $192.00 to $202.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Oppenheimer set a $100.00 target price on Live Nation Entertainment in a research note on Tuesday. Finally, Guggenheim boosted their price target on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This trade represents a 23.75% 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, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the sale, the executive vice president directly owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.89% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $184.48 on Thursday. Live Nation Entertainment, Inc. has a one year low of $125.34 and a one year high of $188.00. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $43.45 billion, a price-to-earnings ratio of -104.22 and a beta of 1.11. The firm has a 50 day simple moving average of $174.49 and a 200 day simple moving average of $161.94.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) EPS. Research analysts predict that Live Nation Entertainment, Inc. will post 0.94 earnings per share for the current fiscal year.

About Live Nation Entertainment

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.