Empowered Funds LLC Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Empowered Funds LLC increased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 392.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,336 shares of the company’s stock after buying an additional 13,815 shares during the period. Empowered Funds LLC’s holdings in Live Nation Entertainment were worth $1,898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the period. UMB Bank n.a. grew its holdings in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $41,000. Family Firm Inc. purchased a new stake in shares of Live Nation Entertainment in the 2nd quarter worth about $42,000. Finally, Cromwell Holdings LLC grew its stake in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LYV. The Goldman Sachs Group increased their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Roth Mkm boosted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI lifted their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Macquarie boosted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Stock Up 1.5 %

LYV opened at $136.51 on Thursday. The company has a market cap of $31.72 billion, a PE ratio of 145.22, a price-to-earnings-growth ratio of 3.44 and a beta of 1.33. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $136.54. The firm has a 50 day moving average price of $115.09 and a 200 day moving average price of $101.62.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the firm posted $1.78 EPS. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 over the last quarter. Company insiders own 2.72% of the company’s stock.

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.