Tidal Investments LLC Has $3.24 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Tidal Investments LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,980 shares of the company’s stock after buying an additional 312 shares during the period. Tidal Investments LLC’s holdings in Live Nation Entertainment were worth $3,235,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LYV. Park Avenue Securities LLC boosted its holdings in Live Nation Entertainment by 44.5% in the fourth quarter. Park Avenue Securities LLC now owns 2,998 shares of the company’s stock worth $388,000 after purchasing an additional 923 shares in the last quarter. Ritholtz Wealth Management bought a new stake in Live Nation Entertainment in the fourth quarter worth $310,000. HB Wealth Management LLC bought a new stake in Live Nation Entertainment in the fourth quarter worth $230,000. Ameritas Advisory Services LLC lifted its holdings in Live Nation Entertainment by 19.4% in the 4th quarter. Ameritas Advisory Services LLC now owns 8,001 shares of the company’s stock worth $1,036,000 after purchasing an additional 1,301 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in 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 purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In other news, EVP John Hopmans sold 34,808 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the transaction, the executive vice president now directly owns 189,456 shares of the company’s stock, valued at approximately $27,922,025.28. This represents a 15.52% 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 stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 103,510 shares of company stock valued at $15,627,146. Company insiders own 3.01% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV opened at $144.27 on Thursday. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The firm has a market capitalization of $33.44 billion, a PE ratio of 53.04, a PEG ratio of 1.81 and a beta of 1.47. The business’s 50 day moving average is $131.03 and its 200-day moving average is $134.48. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same period in the previous year, the business posted $0.60 EPS. Live Nation Entertainment’s revenue for the quarter was down 11.0% compared to the same quarter last year. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Benchmark restated a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 1st. 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. Finally, Rosenblatt Securities decreased 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 report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and a consensus price target of $162.07.

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.