Choreo LLC Purchases Shares of 3,174 Live Nation Entertainment, Inc. (NYSE:LYV)

Choreo LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the second quarter, HoldingsChannel.com reports. The firm acquired 3,174 shares of the company’s stock, valued at approximately $300,000.

Several other hedge funds also recently modified their holdings of LYV. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Live Nation Entertainment by 19.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock valued at $19,494,000 after purchasing an additional 29,669 shares in the last quarter. Nordea Investment Management AB increased its holdings in Live Nation Entertainment by 15.8% during the first quarter. Nordea Investment Management AB now owns 1,377,118 shares of the company’s stock worth $146,567,000 after buying an additional 187,839 shares during the last quarter. Public Sector Pension Investment Board raised its position in Live Nation Entertainment by 2,723.0% during the fourth quarter. Public Sector Pension Investment Board now owns 428,732 shares of the company’s stock worth $40,129,000 after acquiring an additional 413,545 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Live Nation Entertainment by 7.5% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,191,712 shares of the company’s stock valued at $205,144,000 after acquiring an additional 153,825 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Live Nation Entertainment in the 1st quarter valued at about $1,454,000. Institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America started coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Morgan Stanley reissued an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Finally, Northcoast Research downgraded shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $119.46.

Insider Buying and Selling at Live Nation Entertainment

In other news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the transaction, the chief accounting officer now owns 12,327 shares in the company, valued at approximately $1,190,911.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’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 owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The disclosure for this sale can be found here. Insiders sold a total of 177,000 shares of company stock worth $17,238,181 over the last three months. Corporate insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $102.92 on Wednesday. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 98.02, a PEG ratio of 2.29 and a beta of 1.34. The stock has a fifty day moving average price of $95.03 and a 200-day moving average price of $95.97.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

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.