Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 20.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,198 shares of the company’s stock after purchasing an additional 548 shares during the period. Independent Advisor Alliance’s holdings in Live Nation Entertainment were worth $414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brooklyn Investment Group acquired a new position in Live Nation Entertainment during the 3rd quarter worth approximately $31,000. World Investment Advisors LLC acquired a new position in Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Morse Asset Management Inc acquired a new position in Live Nation Entertainment during the 3rd quarter worth approximately $42,000. Golden State Wealth Management LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Live Nation Entertainment during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 2.2 %

Shares of Live Nation Entertainment stock opened at $121.89 on Tuesday. The company has a market cap of $28.45 billion, a P/E ratio of 44.81, a PEG ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75. The firm has a fifty day moving average of $139.38 and a two-hundred day moving average of $127.00.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Guggenheim boosted their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price 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. Morgan Stanley upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Roth Mkm upped their target price 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. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average price target of $157.27.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,702 shares of company stock worth $10,497,143. 2.72% 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.