Envestnet Asset Management Inc. Increases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Envestnet Asset Management Inc. increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 863.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,560 shares of the company’s stock after purchasing an additional 12,153 shares during the period. Envestnet Asset Management Inc.’s holdings in Live Nation Entertainment were worth $590,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $134,000. Massey Quick Simon & CO. LLC bought a new position in Live Nation Entertainment during the 3rd quarter valued at about $167,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Live Nation Entertainment by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,321 shares of the company’s stock valued at $185,000 after acquiring an additional 445 shares during the period. Neuberger Berman Group LLC lifted its stake in Live Nation Entertainment by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 7,830 shares of the company’s stock valued at $273,000 after acquiring an additional 63 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in Live Nation Entertainment by 58.5% during the 2nd quarter. IHT Wealth Management LLC now owns 2,574 shares of the company’s stock valued at $280,000 after acquiring an additional 950 shares during the period. Institutional investors own 68.06% of the company’s stock.

Several equities research analysts have recently commented on LYV shares. Zacks Investment Research lowered shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday. Citigroup lowered shares of Live Nation Entertainment from a “buy” rating to a “neutral” rating in a research report on Saturday, December 30th. Macquarie reaffirmed a “buy” rating and set a $48.00 price target on shares of Live Nation Entertainment in a research report on Sunday, November 5th. Jefferies Group increased their target price on shares of Live Nation Entertainment from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Live Nation Entertainment in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $44.00.

Live Nation Entertainment, Inc. (LYV) traded up $0.67 during midday trading on Friday, hitting $44.43. The stock had a trading volume of 617,042 shares, compared to its average volume of 1,690,000. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.39. The company has a market cap of $9,190.00, a P/E ratio of 2,222.61 and a beta of 1.06. Live Nation Entertainment, Inc. has a 52-week low of $27.00 and a 52-week high of $46.99.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, November 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.36 billion. Live Nation Entertainment had a net margin of 0.50% and a return on equity of 3.33%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. equities analysts expect that Live Nation Entertainment, Inc. will post 0.14 EPS for the current fiscal year.

In related news, COO Joe Berchtold sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $45.43, for a total value of $908,600.00. Following the completion of the sale, the chief operating officer now directly owns 117,918 shares in the company, valued at $5,357,014.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Rapino sold 210,000 shares of Live Nation Entertainment stock in a transaction on Friday, December 8th. The stock was sold at an average price of $43.21, for a total value of $9,074,100.00. Following the sale, the chief executive officer now owns 115,277 shares of the company’s stock, valued at $4,981,119.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,106,511 shares of company stock valued at $49,467,752. 4.77% of the stock is owned by corporate insiders.

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Live Nation Entertainment Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising. Its segments include Concerts, Sponsorship & Advertising, Ticketing and Artist Nation. The Concerts segment is engaged in promotion of live music events in its owned or operated venues and in rented third-party venues; operation and management of music venues; production of music festivals, and creation of associated content.

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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