Xponance Inc. Boosts Stock Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Xponance Inc. raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,491 shares of the company’s stock after buying an additional 1,223 shares during the quarter. Xponance Inc.’s holdings in Live Nation Entertainment were worth $4,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the third quarter valued at about $31,000. World Investment Advisors LLC purchased a new stake in shares of Live Nation Entertainment during the third quarter worth about $38,000. Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment during the third quarter worth about $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYV shares. Rosenblatt Securities restated a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Citigroup boosted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Guggenheim boosted their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Roth Mkm lifted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Bank of America lifted their target price on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Insider Activity

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock worth $10,497,143 over the last three months. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Trading Up 2.8 %

Shares of NYSE:LYV opened at $122.51 on Thursday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a market capitalization of $28.59 billion, a PE ratio of 45.04, a PEG ratio of 1.81 and a beta of 1.38. The business has a 50 day moving average of $139.01 and a two-hundred day moving average of $127.12. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10.

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

Live Nation Entertainment 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.