18,467 Shares in Live Nation Entertainment, Inc. $LYV Purchased by Dockside LLC

Dockside LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,467 shares of the company’s stock, valued at approximately $2,632,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYV. Norges Bank acquired a new stake in Live Nation Entertainment in the fourth quarter worth about $285,924,000. First Trust Advisors LP increased its position in Live Nation Entertainment by 653.7% in the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares during the period. Principal Financial Group Inc. increased its position in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares during the period. Bessemer Group Inc. increased its position in Live Nation Entertainment by 70.0% in the fourth quarter. Bessemer Group Inc. now owns 1,843,750 shares of the company’s stock worth $262,733,000 after purchasing an additional 759,363 shares during the period. Finally, Woodline Partners LP increased its position in Live Nation Entertainment by 3,475.4% in the third quarter. Woodline Partners LP now owns 609,574 shares of the company’s stock worth $99,604,000 after purchasing an additional 592,525 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYV. Rothschild & Co Redburn raised their target price on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. Guggenheim raised their target price on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Sanford C. Bernstein raised their target price on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Susquehanna raised their target price on Live Nation Entertainment from $180.00 to $181.00 in a report on Wednesday, May 6th. Finally, Roth Mkm restated a “buy” rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Twenty research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Live Nation Entertainment Trading Up 0.0%

NYSE:LYV opened at $172.35 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $125.34 and a fifty-two week high of $175.25. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $40.60 billion, a PE ratio of -97.37 and a beta of 1.12. The business’s 50-day simple moving average is $162.57 and its 200-day simple moving average is $152.73.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned ($0.32) EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michael Rowles sold 63,776 shares of Live Nation Entertainment stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Hopmans sold 93,078 shares of Live Nation Entertainment stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.89% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.