OMERS ADMINISTRATION Corp Purchases 1,121 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

OMERS ADMINISTRATION Corp grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 20.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,711 shares of the company’s stock after acquiring an additional 1,121 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Live Nation Entertainment were worth $869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Measured Risk Portfolios Inc. bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp bought a new stake in Live Nation Entertainment during the fourth quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth approximately $42,000. Retirement Wealth Solutions LLC bought a new stake in Live Nation Entertainment during the fourth quarter worth approximately $44,000. Finally, Independence Bank of Kentucky bought a new stake in Live Nation Entertainment during the fourth quarter worth approximately $45,000. 74.52% of the stock is currently owned by institutional investors.

Live Nation Entertainment Stock Up 1.6%

Shares of NYSE LYV opened at $147.80 on Friday. 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 capitalization of $34.26 billion, a price-to-earnings ratio of 54.34, a PEG ratio of 1.81 and a beta of 1.47. The stock has a 50 day moving average price of $129.40 and a 200 day moving average price of $133.99. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

LYV has been the topic of several analyst reports. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price objective 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. Bank of America boosted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Roth Mkm cut their target price on Live Nation Entertainment from $174.00 to $164.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Rosenblatt Securities cut their target price on Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $162.07.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,702 shares of company stock worth $10,497,143. Company insiders own 3.01% of the company’s stock.

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.