Symmetry Partners LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,339 shares of the company’s stock, valued at approximately $220,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Nova Scotia boosted its holdings in shares of Live Nation Entertainment by 6.9% in the 3rd quarter. Bank of Nova Scotia now owns 560,768 shares of the company’s stock worth $46,566,000 after buying an additional 36,298 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Live Nation Entertainment by 170.9% during the third quarter. Procyon Advisors LLC now owns 7,784 shares of the company’s stock valued at $646,000 after buying an additional 4,911 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Live Nation Entertainment by 9,800.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after buying an additional 490 shares during the period. Aigen Investment Management LP increased its position in shares of Live Nation Entertainment by 133.2% during the third quarter. Aigen Investment Management LP now owns 23,542 shares of the company’s stock valued at $1,955,000 after buying an additional 13,448 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in shares of Live Nation Entertainment by 78.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock valued at $105,961,000 after buying an additional 561,384 shares during the period. 70.95% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LYV has been the topic of several research analyst reports. Roth Mkm upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $92.00 to $114.00 in a research report on Friday, January 12th. Morgan Stanley raised their target price on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Rosenblatt Securities raised their target price on shares of Live Nation Entertainment from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Finally, Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.55.
Insider Transactions at Live Nation Entertainment
In related news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now owns 59,374 shares in the company, valued at $5,967,087. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.85% of the company’s stock.
Live Nation Entertainment Stock Up 0.3 %
Shares of Live Nation Entertainment stock opened at $103.77 on Friday. The company has a debt-to-equity ratio of 9.30, a quick ratio of 0.96 and a current ratio of 0.96. Live Nation Entertainment, Inc. has a 52-week low of $64.25 and a 52-week high of $104.88. The stock has a market capitalization of $23.95 billion, a price-to-earnings ratio of 78.02 and a beta of 1.30. The company’s 50 day moving average price is $92.85 and its 200-day moving average price is $88.01.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.72 billion. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.78 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.
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