MetLife Investment Management LLC Grows Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

MetLife Investment Management LLC boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,931 shares of the company’s stock after buying an additional 2,342 shares during the quarter. MetLife Investment Management LLC’s holdings in Live Nation Entertainment were worth $5,248,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in LYV. B. Riley Wealth Advisors Inc. increased its stake in shares of Live Nation Entertainment by 4.5% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,634 shares of the company’s stock worth $702,000 after purchasing an additional 286 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Live Nation Entertainment in the first quarter worth about $207,000. DekaBank Deutsche Girozentrale lifted its position in shares of Live Nation Entertainment by 130.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 59,529 shares of the company’s stock valued at $6,315,000 after buying an additional 33,681 shares in the last quarter. DNB Asset Management AS increased its holdings in Live Nation Entertainment by 1.8% in the 2nd quarter. DNB Asset Management AS now owns 24,840 shares of the company’s stock worth $2,329,000 after acquiring an additional 439 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Live Nation Entertainment by 13.0% during the 2nd quarter. Fulton Bank N.A. now owns 6,364 shares of the company’s stock worth $597,000 after acquiring an additional 730 shares during the period. 74.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last ninety days. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on LYV shares. JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Macquarie boosted their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. TD Cowen increased their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Guggenheim boosted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Benchmark increased their price objective on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Price Performance

LYV stock opened at $138.25 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $81.38 and a 52 week high of $141.18. The firm has a market capitalization of $32.12 billion, a P/E ratio of 147.07, a price-to-earnings-growth ratio of 3.79 and a beta of 1.33. The company has a fifty day simple moving average of $120.38 and a two-hundred day simple moving average of $103.68. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

About Live Nation Entertainment

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.