2,620 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, Holdings Channel reports. The fund purchased 2,620 shares of the company’s stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors have also modified their holdings of LYV. Independent Franchise Partners LLP boosted its holdings in Live Nation Entertainment by 207.6% during the 4th quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company’s stock valued at $607,871,000 after acquiring an additional 3,168,210 shares during the period. Groupama Asset Managment acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $259,000,000. Norges Bank purchased a new stake in Live Nation Entertainment during the 4th quarter worth approximately $255,955,000. Capital World Investors lifted its holdings in Live Nation Entertainment by 54.2% during the 4th quarter. Capital World Investors now owns 1,707,284 shares of the company’s stock worth $221,093,000 after buying an additional 599,784 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Live Nation Entertainment by 34.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,919,630 shares of the company’s stock valued at $248,592,000 after buying an additional 496,202 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $134.11 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $31.30 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 1.81 and a beta of 1.31. The stock’s 50-day moving average is $128.41 and its two-hundred day moving average is $132.25.

Live Nation Entertainment (NYSE:LYV) last released 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 for the quarter, compared to analyst estimates of $3.63 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company’s quarterly revenue was down 11.0% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LYV shares. Bank of America increased their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Benchmark reiterated a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Finally, Susquehanna initiated coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They set a “positive” rating and a $155.00 price target for the company. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $159.13.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares of the company’s stock, valued at $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last 90 days. 2.72% of the stock is owned by insiders.

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.