Stratos Wealth Partners LTD. Takes $272,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Stratos Wealth Partners LTD. acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,086 shares of the company’s stock, valued at approximately $272,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new stake in shares of Live Nation Entertainment during the fourth quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Live Nation Entertainment during the first quarter valued at approximately $30,000. Chilton Capital Management LLC bought a new position in Live Nation Entertainment in the first quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the fourth quarter valued at approximately $40,000. Finally, Private Trust Co. NA boosted its stake in Live Nation Entertainment by 94.2% in the first quarter. Private Trust Co. NA now owns 404 shares of the company’s stock valued at $53,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the topic of several research analyst reports. Roth Mkm dropped their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Wolfe Research raised their price objective on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Guggenheim restated a “buy” rating and set a $170.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price target on the stock. Finally, Rosenblatt Securities lowered their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $165.24.

Live Nation Entertainment Stock Down 1.6%

LYV opened at $146.09 on Wednesday. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $33.86 billion, a PE ratio of 49.86, a P/E/G ratio of 5.76 and a beta of 1.45. The stock’s fifty day moving average is $144.23 and its 200-day moving average is $137.67. Live Nation Entertainment, Inc. has a one year low of $87.33 and a one year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during 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%. The company’s revenue was down 11.0% on a year-over-year basis. During the same period last year, the company earned $0.60 EPS. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 189,456 shares of the company’s stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.72% of the company’s stock.

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.