Creative Planning Boosts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Creative Planning raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,405 shares of the company’s stock after buying an additional 904 shares during the quarter. Creative Planning’s holdings in Live Nation Entertainment were worth $3,220,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 valued at $34,000 after acquiring an additional 202 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after acquiring an additional 176 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $42,000. American National Bank & Trust bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $50,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Live Nation Entertainment by 1,738.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,103 shares of the company’s stock valued at $103,000 after acquiring an additional 1,043 shares during the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 transaction 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 $55,255,395. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the transaction, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 in the last quarter. 2.85% of the stock is owned by company insiders.

Live Nation Entertainment Trading Down 0.1 %

LYV opened at $116.32 on Friday. The stock has a market cap of $26.72 billion, a PE ratio of 110.78, a PEG ratio of 2.78 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The business has a 50 day moving average of $104.91 and a 200-day moving average of $97.62. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $117.48.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on LYV. Oppenheimer boosted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Roth Mkm boosted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Benchmark reaffirmed a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

About Live Nation Entertainment

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.