Managed Asset Portfolios LLC Has $4.41 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Managed Asset Portfolios LLC raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,303 shares of the company’s stock after buying an additional 263 shares during the period. Managed Asset Portfolios LLC’s holdings in Live Nation Entertainment were worth $4,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its position in shares of Live Nation Entertainment by 25.7% in the third quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. Private Advisor Group LLC grew its stake in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock valued at $352,000 after purchasing an additional 89 shares in the last quarter. Vontobel Holding Ltd. increased its position in shares of Live Nation Entertainment by 1.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Live Nation Entertainment by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after buying an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. boosted its holdings in shares of Live Nation Entertainment by 2.1% in the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock valued at $491,000 after buying an additional 110 shares during the last quarter. 74.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LYV shares. Benchmark upped their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Macquarie lifted their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Evercore ISI upped their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Guggenheim lifted their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $141.53.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $140.29 on Friday. The company has a 50-day simple moving average of $116.74 and a two-hundred day simple moving average of $102.23. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $140.29. The stock has a market capitalization of $32.60 billion, a price-to-earnings ratio of 149.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The business had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Insider Activity

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. The trade was a 4.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is currently owned by company insiders.

Live Nation Entertainment 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.