Private Advisor Group LLC Takes $320,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Private Advisor Group LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 4,567 shares of the company’s stock, valued at approximately $320,000.

A number of other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust boosted its holdings in Live Nation Entertainment by 153.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 415 shares of the company’s stock worth $48,000 after acquiring an additional 251 shares during the period. Belpointe Asset Management LLC purchased a new position in Live Nation Entertainment in the 4th quarter worth approximately $58,000. Headlands Technologies LLC purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $66,000. Signaturefd LLC boosted its holdings in Live Nation Entertainment by 25.5% in the 1st quarter. Signaturefd LLC now owns 980 shares of the company’s stock worth $69,000 after acquiring an additional 199 shares during the period. Finally, Desjardins Global Asset Management Inc. purchased a new position in Live Nation Entertainment in the 1st quarter worth approximately $82,000. Hedge funds and other institutional investors own 70.95% of the company’s stock.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Morgan Stanley increased their target price on Live Nation Entertainment from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Monday, July 31st. StockNews.com began coverage on Live Nation Entertainment in a research note on Thursday, August 17th. They set a “hold” rating for the company. Evercore ISI increased their target price on Live Nation Entertainment from $90.00 to $100.00 and gave the company an “in-line” rating in a research note on Monday, July 24th. Finally, Oppenheimer increased their target price on Live Nation Entertainment from $110.00 to $115.00 in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $105.69.

Live Nation Entertainment Trading Down 0.6 %

NYSE:LYV opened at $84.05 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 17.65. Live Nation Entertainment, Inc. has a 1-year low of $64.25 and a 1-year high of $101.74. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 78.55 and a beta of 1.30. The stock has a fifty day simple moving average of $89.42 and a 200 day simple moving average of $79.98.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, July 27th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.45. The firm had revenue of $5.63 billion during the quarter, compared to the consensus estimate of $4.95 billion. Live Nation Entertainment had a return on equity of 190.42% and a net margin of 2.34%. The business’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 1,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $85.79, for a total value of $85,790.00. Following the completion of the sale, the director now directly owns 60,975 shares of the company’s stock, valued at approximately $5,231,045.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Profile

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.