Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Grandview Asset Management LLC

Grandview Asset Management LLC lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,189 shares of the company’s stock after buying an additional 519 shares during the period. Grandview Asset Management LLC’s holdings in Live Nation Entertainment were worth $416,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LYV. Measured Risk Portfolios Inc. acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $29,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $40,000. Smartleaf Asset Management LLC boosted its stake in shares of Live Nation Entertainment by 17.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock worth $65,000 after buying an additional 75 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $74,000. Finally, Optiver Holding B.V. boosted its stake in shares of Live Nation Entertainment by 211.0% during the fourth quarter. Optiver Holding B.V. now owns 594 shares of the company’s stock worth $77,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 2.2%

Shares of Live Nation Entertainment stock opened at $145.52 on Wednesday. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1 year low of $87.33 and a 1 year high of $157.75. The company has a market capitalization of $33.73 billion, a P/E ratio of 49.67, a P/E/G ratio of 5.64 and a beta of 1.44. The business has a 50 day moving average price of $137.36 and a 200 day moving average price of $135.87.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 125.77% and a net margin of 4.28%. The company had revenue of $3.38 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was down 11.0% on a year-over-year basis. Sell-side analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LYV. Rosenblatt Securities reduced their price objective 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, May 2nd. Sanford C. Bernstein began coverage on shares of Live Nation Entertainment in a research report on Wednesday, June 4th. They issued an “outperform” rating and a $185.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Roth Mkm reduced their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Finally, Benchmark reiterated a “buy” rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.35.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the business’s stock in a transaction 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 in the company, valued at approximately $27,922,025.28. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.72% of the stock is currently 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.