LPL Financial LLC Has $6.67 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

LPL Financial LLC lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 54.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 51,516 shares of the company’s stock after purchasing an additional 18,135 shares during the period. LPL Financial LLC’s holdings in Live Nation Entertainment were worth $6,671,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Live Nation Entertainment during the fourth quarter worth $6,760,000. Mizuho Securities USA LLC raised its holdings in shares of Live Nation Entertainment by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 14,862 shares of the company’s stock worth $1,925,000 after acquiring an additional 4,706 shares during the last quarter. Virtu Financial LLC bought a new position in Live Nation Entertainment in the 4th quarter valued at about $1,776,000. Quantbot Technologies LP boosted its stake in Live Nation Entertainment by 226.0% during the 4th quarter. Quantbot Technologies LP now owns 44,255 shares of the company’s stock valued at $5,731,000 after purchasing an additional 30,678 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $1,353,000. 74.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction on Monday, February 24th. The stock was 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 directly owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’s 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 transaction, 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 a total of 68,702 shares of company stock valued at $10,497,143 over the last quarter. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Performance

NYSE:LYV opened at $121.00 on Monday. The company has a market capitalization of $28.24 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.81 and a beta of 1.31. The business has a fifty day simple moving average of $137.16 and a two-hundred day simple moving average of $129.83. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYV. Benchmark restated a “buy” rating and issued a $178.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $174.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. 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 report on Thursday, March 6th. Finally, Bank of America upped their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.33.

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.