Resources Management Corp CT ADV Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Resources Management Corp CT ADV lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.3% in the second quarter, HoldingsChannel.com reports. The fund owned 3,148 shares of the company’s stock after acquiring an additional 417 shares during the period. Resources Management Corp CT ADV’s holdings in Live Nation Entertainment were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of LYV. Gilbert & Cook Inc. increased its position in shares of Live Nation Entertainment by 4.0% during the 4th quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock valued at $605,000 after purchasing an additional 249 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Live Nation Entertainment during the fourth quarter worth about $233,000. Franklin Resources Inc. raised its position in Live Nation Entertainment by 22.3% in the fourth quarter. Franklin Resources Inc. now owns 58,542 shares of the company’s stock worth $5,480,000 after acquiring an additional 10,661 shares during the period. US Bancorp DE boosted its stake in Live Nation Entertainment by 4.9% in the fourth quarter. US Bancorp DE now owns 21,030 shares of the company’s stock valued at $1,968,000 after acquiring an additional 987 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $2,085,000. 74.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LYV has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Benchmark restated a “buy” rating and issued a $132.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Oppenheimer upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.46.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $107.43 on Wednesday. The stock has a market capitalization of $24.74 billion, a price-to-earnings ratio of 102.32, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. The company has a fifty day moving average of $95.97 and a 200-day moving average of $96.20. 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 52-week low of $76.48 and a 52-week high of $107.96.

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

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the transaction, the director now owns 15,128 shares in the company, valued at $1,460,759.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at $16,349,525.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now directly owns 15,128 shares in the company, valued at $1,460,759.68. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock worth $17,238,181 in the last three months. 2.85% of the stock is owned by insiders.

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.