Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,613 shares of the company’s stock after acquiring an additional 5,020 shares during the quarter. Van ECK Associates Corp’s holdings in Live Nation Entertainment were worth $3,333,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Findlay Park Partners LLP grew its stake in shares of Live Nation Entertainment by 55.1% during the third quarter. Findlay Park Partners LLP now owns 3,059,485 shares of the company’s stock valued at $254,060,000 after acquiring an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in Live Nation Entertainment by 52.8% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock worth $174,384,000 after purchasing an additional 726,000 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Live Nation Entertainment by 104.2% during the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock valued at $112,268,000 after buying an additional 606,743 shares during the last quarter. Los Angeles Capital Management LLC grew its position in shares of Live Nation Entertainment by 78.6% during the third quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock worth $105,961,000 after buying an additional 561,384 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Live Nation Entertainment by 5.1% in the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after acquiring an additional 429,650 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LYV shares. Morgan Stanley increased their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reiterated a “buy” rating and issued a $108.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, April 16th. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a research note on Monday. Finally, Rosenblatt Securities lifted their price target on shares of Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.00.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares in the company, valued at $5,967,087. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.85% of the company’s stock.

Live Nation Entertainment Stock Up 1.3 %

LYV stock opened at $95.89 on Tuesday. The firm’s 50-day moving average is $98.60 and its two-hundred day moving average is $91.79. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 10.83. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 91.39, a price-to-earnings-growth ratio of 1.92 and a beta of 1.34. Live Nation Entertainment, Inc. has a 52 week low of $76.48 and a 52 week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company earned ($0.25) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts forecast that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.

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.