HM Payson & Co. Increases Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

HM Payson & Co. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 14,900.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,050 shares of the company’s stock after buying an additional 1,043 shares during the quarter. HM Payson & Co.’s holdings in Live Nation Entertainment were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC bought a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $44,000. Independence Bank of Kentucky bought a new position in shares of Live Nation Entertainment in the 4th quarter worth approximately $45,000. Finally, Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This trade represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.72% of the stock is currently owned by insiders.

Live Nation Entertainment Trading Down 2.7 %

Shares of LYV opened at $127.56 on Monday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The company has a 50 day simple moving average of $140.47 and a two-hundred day simple moving average of $125.99. The firm has a market cap of $29.77 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. On average, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the topic of several recent research reports. Guggenheim increased their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Evercore ISI raised their target price on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Rosenblatt Securities restated a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Roth Mkm raised their target price on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

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.