Caprock Group LLC Boosts Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Caprock Group LLC increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,693 shares of the company’s stock after buying an additional 253 shares during the period. Caprock Group LLC’s holdings in Live Nation Entertainment were worth $514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in shares of Live Nation Entertainment by 0.4% in the third quarter. Swiss National Bank now owns 477,300 shares of the company’s stock valued at $52,260,000 after acquiring an additional 1,700 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Live Nation Entertainment by 7.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 19,281 shares of the company’s stock valued at $2,111,000 after purchasing an additional 1,320 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Live Nation Entertainment by 12.0% in the 3rd quarter. Natixis Advisors LLC now owns 66,481 shares of the company’s stock valued at $7,279,000 after buying an additional 7,136 shares during the period. Mizuho Markets Americas LLC grew its position in shares of Live Nation Entertainment by 1.6% during the third quarter. Mizuho Markets Americas LLC now owns 160,011 shares of the company’s stock worth $17,520,000 after buying an additional 2,498 shares in the last quarter. Finally, Kentucky Retirement Systems increased its stake in shares of Live Nation Entertainment by 1.6% during the third quarter. Kentucky Retirement Systems now owns 10,911 shares of the company’s stock worth $1,195,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.2 %

NYSE LYV opened at $140.26 on Friday. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $140.29. The firm has a market cap of $32.59 billion, a PE ratio of 149.21, a P/E/G ratio of 3.59 and a beta of 1.33. The firm’s fifty day moving average is $116.74 and its two-hundred day moving average is $102.18. 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 (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Analysts expect that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. This trade represents a 4.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.18, for a total value of $536,815.20. Following the transaction, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. This represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock valued at $16,449,718 over the last three months. 2.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Guggenheim increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Benchmark increased their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.53.

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.