Proficio Capital Partners LLC Acquires New Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Proficio Capital Partners LLC acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 67,470 shares of the company’s stock, valued at approximately $8,737,000.

A number of other institutional investors have also recently bought and sold shares of LYV. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $38,000. Morse Asset Management Inc acquired a new position in Live Nation Entertainment during the third quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $119.25 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm’s fifty day moving average price is $139.52 and its two-hundred day moving average price is $126.62. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The firm has a market capitalization of $27.83 billion, a P/E ratio of 43.84, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

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

Insider Activity

In related news, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now owns 10,549 shares in the company, 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 have sold 68,702 shares of company stock valued at $10,497,143 over the last ninety days. 2.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price target on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Roth Mkm upped their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Macquarie upped their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $157.27.

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.