Dockside LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) during the 4th quarter, Holdings Channel.com reports. The firm bought 18,467 shares of the company’s stock, valued at approximately $2,632,000.
Several other institutional investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC lifted its stake in Live Nation Entertainment by 4.9% in the 4th quarter. Axxcess Wealth Management LLC now owns 1,602 shares of the company’s stock valued at $228,000 after acquiring an additional 75 shares in the last quarter. Vident Advisory LLC lifted its stake in Live Nation Entertainment by 2.1% in the 2nd quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock valued at $548,000 after acquiring an additional 75 shares in the last quarter. Prairie Wealth Advisors Inc. lifted its stake in Live Nation Entertainment by 5.0% in the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after acquiring an additional 80 shares in the last quarter. Sumitomo Life Insurance Co. lifted its stake in Live Nation Entertainment by 1.2% in the 4th quarter. Sumitomo Life Insurance Co. now owns 6,821 shares of the company’s stock valued at $972,000 after acquiring an additional 82 shares in the last quarter. Finally, Ameriflex Group Inc. lifted its stake in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.
Insider Buying and Selling
In related news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president directly owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total value of $10,474,570.24. Following the transaction, the executive vice president directly owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by insiders.
Live Nation Entertainment Stock Up 0.0%
Live Nation Entertainment (NYSE:LYV – Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The business had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.57 billion. Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The firm’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. As a group, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.09 EPS for the current year.
Analyst Ratings Changes
LYV has been the topic of a number of analyst reports. Guggenheim upped their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reiterated a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Roth Mkm reiterated a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Wolfe Research upped their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, UBS Group upped their price objective on Live Nation Entertainment from $164.00 to $181.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $188.50.
Get Our Latest Stock Report on LYV
Live Nation Entertainment Profile
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
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