Exchange Traded Concepts LLC Has $785,000 Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Exchange Traded Concepts LLC lifted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,166 shares of the company’s stock after buying an additional 172 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Live Nation Entertainment were worth $785,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its position in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares during the last quarter. Rise Advisors LLC lifted its holdings in Live Nation Entertainment by 90.3% during the 1st quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after purchasing an additional 159 shares during the last quarter. UMB Bank n.a. grew its holdings in Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares in the last quarter. Family Firm Inc. bought a new position in Live Nation Entertainment during the 2nd quarter worth $42,000. Finally, American National Bank & Trust acquired a new stake in shares of Live Nation Entertainment during the third quarter worth $50,000. Institutional investors own 74.52% of the company’s stock.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,500 shares of Live Nation Entertainment stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now directly owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares in the company, valued at approximately $16,349,525.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 177,000 shares of company stock worth $17,238,181 in the last 90 days. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Trading Up 0.6 %

LYV opened at $115.13 on Friday. The company has a market cap of $26.45 billion, a P/E ratio of 109.65, a PEG ratio of 2.65 and a beta of 1.35. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The company’s 50 day moving average is $102.22 and its 200-day moving average is $97.16. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $116.57.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share 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 analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Macquarie increased their price target on Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Bank of America initiated coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $120.77.

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.