Envestnet Asset Management Inc. Acquires 9,298 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Envestnet Asset Management Inc. lifted its holdings in Live Nation Entertainment, Inc. (NYSE:LYVGet Rating) by 5.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 178,780 shares of the company’s stock after purchasing an additional 9,298 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Live Nation Entertainment worth $21,032,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Live Nation Entertainment by 224.6% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 211 shares of the company’s stock worth $25,000 after purchasing an additional 146 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Live Nation Entertainment in the fourth quarter worth about $27,000. FNY Investment Advisers LLC bought a new position in shares of Live Nation Entertainment in the first quarter worth about $32,000. Ahrens Investment Partners LLC increased its stake in shares of Live Nation Entertainment by 55.6% in the first quarter. Ahrens Investment Partners LLC now owns 280 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the period. Finally, Key Financial Inc bought a new position in shares of Live Nation Entertainment in the first quarter worth about $43,000. 73.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $93.08, for a total transaction of $7,260,240.00. Following the transaction, the chief executive officer now owns 3,336,520 shares in the company, valued at approximately $310,563,281.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.01% of the company’s stock.

Live Nation Entertainment Trading Up 0.8 %

LYV stock opened at $96.03 on Wednesday. Live Nation Entertainment, Inc. has a 1-year low of $76.31 and a 1-year high of $127.75. The firm has a market cap of $21.90 billion, a P/E ratio of -46.62 and a beta of 1.32. The business’s 50 day moving average is $88.51 and its 200-day moving average is $101.69.

Live Nation Entertainment (NYSE:LYVGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.59. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.88 billion. The company’s revenue for the quarter was up 520.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.44) earnings per share. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Benchmark started coverage on Live Nation Entertainment in a research note on Monday, April 25th. They issued a “buy” rating and a $135.00 price objective on the stock. Morgan Stanley lowered their price target on Live Nation Entertainment from $115.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 2nd. Rosenblatt Securities started coverage on Live Nation Entertainment in a research note on Monday, April 25th. They set a “buy” rating and a $138.00 price target on the stock. Wolfe Research lowered their price target on Live Nation Entertainment from $145.00 to $119.00 and set an “outperform” rating on the stock in a research note on Thursday, June 2nd. Finally, Citigroup lowered their price target on Live Nation Entertainment from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $119.90.

Live Nation Entertainment Company Profile

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Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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

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