Live Nation Entertainment, Inc. $LYV Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 45.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 41,642 shares of the company’s stock after purchasing an additional 12,916 shares during the quarter. ProShare Advisors LLC’s holdings in Live Nation Entertainment were worth $5,934,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of LYV. Empowered Funds LLC grew its holdings in shares of Live Nation Entertainment by 3.3% in the 1st quarter. Empowered Funds LLC now owns 17,376 shares of the company’s stock worth $2,269,000 after acquiring an additional 547 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Live Nation Entertainment by 15.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 798 shares of the company’s stock worth $121,000 after acquiring an additional 109 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Live Nation Entertainment by 6.0% in the 2nd quarter. Cerity Partners LLC now owns 27,496 shares of the company’s stock worth $4,160,000 after acquiring an additional 1,550 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Live Nation Entertainment by 15.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 26,340 shares of the company’s stock worth $3,983,000 after acquiring an additional 3,604 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in Live Nation Entertainment by 344.3% during the second quarter. NewEdge Advisors LLC now owns 2,208 shares of the company’s stock valued at $334,000 after buying an additional 1,711 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Performance

Shares of LYV stock opened at $165.74 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $175.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a market capitalization of $39.04 billion, a price-to-earnings ratio of -93.64 and a beta of 1.11. The stock’s fifty day simple moving average is $158.63 and its 200-day simple moving average is $149.75.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly 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). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the prior year, the firm posted ($0.32) EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal year.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction dated 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 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the transaction, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. This trade represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 157,798 shares of company stock worth $26,088,615. 2.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on LYV shares. Roth Mkm reaffirmed a “buy” rating and set a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Zacks Research raised shares of Live Nation Entertainment from a “strong sell” rating to a “hold” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $178.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Bank of America upped their price objective on shares of Live Nation Entertainment from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Finally, Guggenheim upped their price objective on shares of Live Nation Entertainment from $192.00 to $197.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.75.

Live Nation Entertainment Company 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.