Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,728 shares of the company’s stock after acquiring an additional 154 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Live Nation Entertainment were worth $487,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Amundi boosted its position in shares of Live Nation Entertainment by 3.7% during the 4th quarter. Amundi now owns 1,089,290 shares of the company’s stock worth $141,945,000 after acquiring an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after purchasing an additional 33,980 shares during the last quarter. Aviva PLC lifted its holdings in shares of Live Nation Entertainment by 1,524.1% in the 4th quarter. Aviva PLC now owns 97,057 shares of the company’s stock valued at $12,569,000 after purchasing an additional 91,081 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Live Nation Entertainment by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,019,988 shares of the company’s stock valued at $132,088,000 after purchasing an additional 48,949 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter valued at about $8,737,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the sale, the executive vice president owned 189,456 shares in the company, valued at approximately $27,922,025.28. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on LYV. Sanford C. Bernstein began coverage on Live Nation Entertainment in a report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 target price for the company. Wolfe Research upped their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Guggenheim reaffirmed a “buy” rating and set a $170.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 18th. Benchmark reaffirmed a “buy” rating and set a $178.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, Rosenblatt Securities reduced their price objective on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.24.

Live Nation Entertainment Stock Performance

LYV opened at $149.27 on Friday. The stock has a market cap of $34.60 billion, a P/E ratio of 50.95, a P/E/G ratio of 5.79 and a beta of 1.45. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $142.53 and its 200 day simple moving average is $137.05. Live Nation Entertainment, Inc. has a 1-year low of $87.33 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. Live Nation Entertainment’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Live Nation Entertainment Company 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.