Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 134.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,503 shares of the company’s stock after acquiring an additional 12,327 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Live Nation Entertainment were worth $2,785,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LYV. Amundi boosted its holdings in Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Live Nation Entertainment by 595.3% in the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company’s stock valued at $5,140,000 after buying an additional 33,980 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of Live Nation Entertainment in the 4th quarter valued at $226,000. Charles Schwab Investment Management Inc. lifted its position in Live Nation Entertainment by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock valued at $106,319,000 after acquiring an additional 107,844 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in Live Nation Entertainment in the fourth quarter valued at $754,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares in the company, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,702 shares of company stock valued at $10,497,143 over the last quarter. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 0.1 %

Shares of Live Nation Entertainment stock opened at $127.15 on Wednesday. The stock has a market cap of $29.68 billion, a PE ratio of 46.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50-day moving average of $138.58 and a two-hundred day moving average of $128.19. 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, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LYV has been the subject of several research reports. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Roth Mkm lifted their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Macquarie lifted their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, March 6th. Finally, Morgan Stanley boosted 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 note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

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.