Van ECK Associates Corp Grows Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Van ECK Associates Corp increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,783 shares of the company’s stock after purchasing an additional 410 shares during the quarter. Van ECK Associates Corp’s holdings in Live Nation Entertainment were worth $5,826,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Live Nation Entertainment by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 36,371 shares of the company’s stock worth $3,847,000 after buying an additional 2,173 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Live Nation Entertainment by 442.1% in the first quarter. Janney Montgomery Scott LLC now owns 12,583 shares of the company’s stock worth $1,331,000 after purchasing an additional 10,262 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Live Nation Entertainment by 3.7% during the 1st quarter. Empirical Finance LLC now owns 4,819 shares of the company’s stock valued at $510,000 after purchasing an additional 174 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Live Nation Entertainment by 27.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,678 shares of the company’s stock valued at $495,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Live Nation Entertainment in the 1st quarter worth approximately $281,000. Institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 177,000 shares of company stock valued at $17,238,181. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 1.1 %

Shares of LYV opened at $124.60 on Friday. The firm has a market cap of $28.70 billion, a P/E ratio of 117.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.33. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. Live Nation Entertainment, Inc. has a 1 year low of $81.38 and a 1 year high of $127.64. The company has a 50 day simple moving average of $109.01 and a two-hundred day simple moving average of $99.06.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Roth Mkm raised their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie upped their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Live Nation Entertainment from $122.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.73.

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.