Live Nation Entertainment, Inc. (NYSE:LYV) Stake Lifted by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 18.2% during the third quarter, Holdings Channel.com reports. The fund owned 18,187 shares of the company’s stock after acquiring an additional 2,800 shares during the quarter. State of Alaska Department of Revenue’s holdings in Live Nation Entertainment were worth $1,991,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. UMB Bank n.a. lifted its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Live Nation Entertainment in the second quarter valued at approximately $42,000. Cromwell Holdings LLC boosted its holdings 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 purchasing an additional 88 shares during the period. Finally, American National Bank & Trust acquired a new stake in Live Nation Entertainment during the third quarter worth about $50,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 0.0 %

NYSE:LYV opened at $117.15 on Friday. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 110.52, a PEG ratio of 2.81 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The stock has a 50-day moving average price of $107.03 and a two-hundred day moving average price of $98.21. Live Nation Entertainment, Inc. has a 1 year low of $80.42 and a 1 year high of $119.47.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. Live Nation Entertainment’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LYV shares. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Benchmark reissued a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Bank of America initiated coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’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 value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is currently owned by corporate insiders.

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.