MGO One Seven LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

MGO One Seven LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,213 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LYV. World Investment Advisors LLC purchased a new stake in Live Nation Entertainment during the third quarter worth about $38,000. Murphy & Mullick Capital Management Corp purchased a new stake in Live Nation Entertainment during the fourth quarter worth about $40,000. Morse Asset Management Inc purchased a new stake in Live Nation Entertainment during the third quarter worth about $42,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment during the fourth quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Bank of America boosted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Benchmark reaffirmed a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, The Goldman Sachs Group upped their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average target price of $160.00.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $132.25 on Wednesday. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The stock has a market capitalization of $30.87 billion, a P/E ratio of 48.62, a PEG ratio of 1.81 and a beta of 1.31. 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 business’s fifty day moving average price is $129.41 and its 200 day moving average price is $132.01.

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