Envestnet Asset Management Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 12.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,243 shares of the company’s stock after acquiring an additional 24,186 shares during the quarter. Envestnet Asset Management Inc. owned about 0.10% of Live Nation Entertainment worth $15,697,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in Live Nation Entertainment by 153.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the company’s stock worth $48,000 after purchasing an additional 251 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $58,000. Headlands Technologies LLC acquired a new stake in Live Nation Entertainment during the 1st quarter worth approximately $66,000. Signaturefd LLC increased its position in Live Nation Entertainment by 25.5% during the 1st quarter. Signaturefd LLC now owns 980 shares of the company’s stock worth $69,000 after purchasing an additional 199 shares in the last quarter. Finally, Desjardins Global Asset Management Inc. acquired a new stake in Live Nation Entertainment in the first quarter valued at approximately $82,000. Institutional investors and hedge funds own 70.95% of the company’s stock.
Live Nation Entertainment Trading Down 0.6 %
NYSE LYV opened at $84.05 on Monday. Live Nation Entertainment, Inc. has a one year low of $64.25 and a one year high of $101.74. The company has a 50-day simple moving average of $89.42 and a 200-day simple moving average of $79.97. The company has a debt-to-equity ratio of 17.65, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $19.34 billion, a PE ratio of 78.55 and a beta of 1.30.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.57 by $0.45. Live Nation Entertainment had a net margin of 2.34% and a return on equity of 190.42%. The business had revenue of $5.63 billion during the quarter, compared to analyst estimates of $4.95 billion. During the same period in the previous year, the business posted $0.66 EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis. On average, equities analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Evercore ISI increased their price objective on shares of Live Nation Entertainment from $90.00 to $100.00 and gave the company an “in-line” rating in a research report on Monday, July 24th. StockNews.com initiated coverage on shares of Live Nation Entertainment in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Citigroup increased their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.69.
Get Our Latest Research Report on LYV
Insider Activity
In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,000 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $85.79, for a total transaction of $85,790.00. Following the completion of the transaction, the director now directly owns 60,975 shares of the company’s stock, valued at approximately $5,231,045.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.85% of the company’s stock.
Live Nation Entertainment Company Profile
(Free Report)
Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.
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