Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Ethic Inc.

Ethic Inc. boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 15.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,445 shares of the company’s stock after buying an additional 3,085 shares during the period. Ethic Inc.’s holdings in Live Nation Entertainment were worth $3,036,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $40,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $42,000. Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $44,000. Independence Bank of Kentucky acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $45,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Live Nation Entertainment during the 4th quarter worth approximately $53,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and set a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Rosenblatt Securities dropped their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $162.07.

Live Nation Entertainment Trading Up 1.4%

NYSE LYV opened at $136.62 on Monday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $127.81 and its 200 day moving average price is $133.19. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 50.23, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75.

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

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the 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 completion of the sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock valued at $10,497,143 in the last ninety days. 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.