2,359 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Purchased by FFT Wealth Management LLC

FFT Wealth Management LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,359 shares of the company’s stock, valued at approximately $221,000.

A number of other institutional investors also recently bought and sold shares of the stock. Findlay Park Partners LLP increased 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 purchasing an additional 1,087,264 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in shares of Live Nation Entertainment by 52.8% during the third quarter. Jericho Capital Asset Management L.P. now owns 2,100,000 shares of the company’s stock valued at $174,384,000 after acquiring an additional 726,000 shares in the last quarter. Nordea Investment Management AB grew its position in Live Nation Entertainment by 104.2% in the 4th quarter. Nordea Investment Management AB now owns 1,189,279 shares of the company’s stock worth $112,268,000 after purchasing an additional 606,743 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Live Nation Entertainment by 78.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,276,023 shares of the company’s stock valued at $105,961,000 after acquiring an additional 561,384 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in shares of Live Nation Entertainment by 5.1% during the 3rd 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 during the period. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Down 1.5 %

Shares of NYSE LYV traded down $1.32 during midday trading on Thursday, reaching $87.96. 293,266 shares of the company’s stock traded hands, compared to its average volume of 2,235,163. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The stock’s 50 day simple moving average is $98.75 and its 200-day simple moving average is $91.65. Live Nation Entertainment, Inc. has a one year low of $66.38 and a one year high of $107.24. The company has a market cap of $20.30 billion, a price-to-earnings ratio of 67.13 and a beta of 1.34.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. On average, analysts predict that Live Nation Entertainment, Inc. will post 1.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total transaction of $100,600.50. Following the completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYV. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, April 11th. Oppenheimer upped their target price on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $116.64.

About Live Nation Entertainment

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.