Sig Brokerage LP Purchases New Shares in Live Nation Entertainment, Inc. (NYSE:LYV)

Sig Brokerage LP acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,142 shares of the company’s stock, valued at approximately $1,443,000.

A number of other large investors have also recently bought and sold shares of LYV. Wealth Enhancement Advisory Services LLC grew its stake in Live Nation Entertainment by 3.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,686 shares of the company’s stock worth $477,000 after buying an additional 125 shares in the last quarter. Czech National Bank grew its stake in Live Nation Entertainment by 6.6% during the fourth quarter. Czech National Bank now owns 33,999 shares of the company’s stock worth $4,403,000 after buying an additional 2,095 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Live Nation Entertainment by 14.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,346 shares of the company’s stock worth $304,000 after buying an additional 297 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Live Nation Entertainment by 13.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,148 shares of the company’s stock worth $4,422,000 after buying an additional 4,154 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Live Nation Entertainment by 44.5% in the 4th quarter. Park Avenue Securities LLC now owns 2,998 shares of the company’s stock valued at $388,000 after purchasing an additional 923 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Macquarie raised their price target on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Bank of America raised their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Benchmark restated a “buy” rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, April 1st. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and fifteen 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 $162.07.

Live Nation Entertainment Stock Up 2.2%

Shares of NYSE LYV opened at $145.37 on Friday. The company has a market capitalization of $33.69 billion, a P/E ratio of 53.44, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50 day moving average price is $128.88 and its 200-day moving average price is $133.67.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.29). Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 in the last quarter. Company insiders own 3.01% of the company’s stock.

About Live Nation Entertainment

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.