American National Bank & Trust Invests $50,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

American National Bank & Trust purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 455 shares of the company’s stock, valued at approximately $50,000.

Several other hedge funds have also bought and sold shares of LYV. Sanctuary Advisors LLC purchased a new stake in Live Nation Entertainment during the second quarter worth $4,999,000. Coronation Fund Managers Ltd. grew its position in shares of Live Nation Entertainment by 48.3% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 51,187 shares of the company’s stock valued at $4,798,000 after acquiring an additional 16,668 shares during the period. Quarry LP raised its holdings in Live Nation Entertainment by 119.7% in the 2nd quarter. Quarry LP now owns 1,714 shares of the company’s stock worth $161,000 after purchasing an additional 934 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Live Nation Entertainment by 74.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,755 shares of the company’s stock worth $446,000 after purchasing an additional 2,035 shares in the last quarter. Finally, Creative Planning grew its holdings in Live Nation Entertainment by 1.2% in the second quarter. Creative Planning now owns 28,501 shares of the company’s stock valued at $2,672,000 after purchasing an additional 326 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 2.2 %

LYV opened at $109.06 on Friday. The business’s 50 day moving average price is $97.68 and its 200 day moving average price is $96.52. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $25.06 billion, a PE ratio of 103.87, a P/E/G ratio of 2.46 and a beta of 1.35. Live Nation Entertainment, Inc. has a one year low of $76.48 and a one year high of $112.00.

Live Nation Entertainment (NYSE:LYV) last issued 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). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the business posted $1.02 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Morgan Stanley restated an “overweight” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Wednesday, June 12th. Benchmark reiterated a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Finally, Bank of America began coverage on Live Nation Entertainment in a research note on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $119.46.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Live Nation Entertainment 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 completion of the transaction, the chief accounting officer now owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the sale, the chief financial officer now owns 566,722 shares in the company, valued at $55,255,395. The disclosure for this sale can be found here. In the last quarter, insiders sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.

About Live Nation Entertainment

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.