Freestone Grove Partners LP Purchases Shares of 9,933 Live Nation Entertainment, Inc. (NYSE:LYV)

Freestone Grove Partners LP acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, HoldingsChannel reports. The firm acquired 9,933 shares of the company’s stock, valued at approximately $1,286,000.

A number of other large investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in Live Nation Entertainment in the 4th quarter valued at $40,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 4th quarter worth $42,000. Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter valued at about $44,000. Independence Bank of Kentucky purchased a new position in Live Nation Entertainment during the fourth quarter worth about $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Live Nation Entertainment in the 4th quarter worth about $53,000. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred 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 owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred 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 owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last quarter. 2.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LYV. The Goldman Sachs Group boosted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Roth Mkm cut their price objective on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their target price 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. Rosenblatt Securities reduced their price target on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating for the company in a research report on Friday. Finally, Bank of America lifted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus price target of $159.13.

Live Nation Entertainment Stock Up 2.1 %

LYV opened at $134.11 on Friday. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a market cap of $31.30 billion, a PE ratio of 49.31, a price-to-earnings-growth 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 company has a 50 day moving average of $128.41 and a 200 day moving average of $132.25.

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 analysts’ consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business earned $0.60 earnings per share. Live Nation Entertainment’s revenue was down 11.0% on a year-over-year basis. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.