Cerity Partners LLC Purchases New Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Cerity Partners LLC acquired a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,502 shares of the company’s stock, valued at approximately $796,000.

Other hedge funds have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its holdings in Live Nation Entertainment by 148.1% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Live Nation Entertainment in the 3rd quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC raised its position in Live Nation Entertainment by 9,800.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock worth $41,000 after purchasing an additional 490 shares during the last quarter. Tobam acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $59,000. Finally, Headlands Technologies LLC bought a new stake in Live Nation Entertainment during the third quarter valued at $88,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LYV has been the topic of a number of research reports. TD Cowen reaffirmed a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. JPMorgan Chase & Co. increased their price objective on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Morgan Stanley upped their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Finally, Rosenblatt Securities reduced their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Down 1.7 %

Shares of LYV stock opened at $88.45 on Tuesday. The company’s fifty day moving average price is $98.99 and its 200-day moving average price is $91.52. Live Nation Entertainment, Inc. has a one year low of $64.96 and a one year high of $107.24. The company has a market capitalization of $20.41 billion, a price-to-earnings ratio of 66.50 and a beta of 1.30. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Live Nation Entertainment 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.