MBB Public Markets I LLC Buys 9,306 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

MBB Public Markets I LLC raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 396.7% during the second quarter, HoldingsChannel.com reports. The fund owned 11,652 shares of the company’s stock after purchasing an additional 9,306 shares during the quarter. MBB Public Markets I LLC’s holdings in Live Nation Entertainment were worth $1,092,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LYV. Gilbert & Cook Inc. lifted its position in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock worth $605,000 after buying an additional 249 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Live Nation Entertainment by 7.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,251 shares of the company’s stock worth $1,427,000 after acquiring an additional 1,117 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Live Nation Entertainment by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 71,401 shares of the company’s stock valued at $6,683,000 after acquiring an additional 680 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of Live Nation Entertainment by 555.3% in the fourth quarter. Scotia Capital Inc. now owns 21,579 shares of the company’s stock valued at $2,020,000 after purchasing an additional 18,286 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in Live Nation Entertainment by 3.4% in the fourth quarter. California State Teachers Retirement System now owns 255,552 shares of the company’s stock worth $23,920,000 after purchasing an additional 8,334 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a research note on Wednesday, June 12th. Bank of America initiated coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Macquarie reiterated an “outperform” rating and issued a $125.00 target price on shares of Live Nation Entertainment in a report on Wednesday, July 31st. Finally, Benchmark restated a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Insider Buying and Selling

In other Live Nation Entertainment news, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly 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 SEC, which is available at the SEC website. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the transaction, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Capo sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at approximately $1,190,911.47. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock valued at $17,238,181 over the last quarter. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Up 0.7 %

NYSE:LYV opened at $109.49 on Tuesday. The company has a market cap of $25.15 billion, a price-to-earnings ratio of 104.28, a price-to-earnings-growth ratio of 2.46 and a beta of 1.34. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $109.83. 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 stock has a fifty day simple moving average of $97.00 and a 200-day simple moving average of $96.36.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. Analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current year.

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.