Parallel Advisors LLC Buys 414 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Parallel Advisors LLC raised its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,057 shares of the company’s stock after purchasing an additional 414 shares during the quarter. Parallel Advisors LLC’s holdings in Live Nation Entertainment were worth $655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in shares of Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after acquiring an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Western Pacific Wealth Management LP lifted its holdings in shares of Live Nation Entertainment by 10.4% in the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after acquiring an additional 82 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after acquiring an additional 93 shares during the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in shares of Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after acquiring an additional 93 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LYV has been the subject of a number of recent research reports. Macquarie boosted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Guggenheim lifted their target price on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Activity

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Down 0.5 %

Shares of Live Nation Entertainment stock opened at $122.06 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company’s fifty day simple moving average is $138.85 and its two-hundred day simple moving average is $127.09. The company has a market cap of $28.49 billion, a P/E ratio of 44.88, a PEG ratio of 1.81 and a beta of 1.38. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.