Belpointe Asset Management LLC Invests $58,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Belpointe Asset Management LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,296 shares of the company’s stock, valued at approximately $58,000.

Other hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Live Nation Entertainment by 96.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock worth $435,041,000 after buying an additional 1,819,841 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $32,550,000. Vanguard Group Inc. grew its stake in shares of Live Nation Entertainment by 2.7% during the third quarter. Vanguard Group Inc. now owns 16,333,907 shares of the company’s stock worth $1,242,032,000 after purchasing an additional 422,882 shares during the period. Nordea Investment Management AB increased its stake in shares of Live Nation Entertainment by 4,008.3% in the 4th quarter. Nordea Investment Management AB now owns 421,303 shares of the company’s stock valued at $29,264,000 after acquiring an additional 411,048 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in Live Nation Entertainment by 115.1% in the third quarter. Balyasny Asset Management LLC now owns 550,871 shares of the company’s stock worth $41,888,000 after purchasing an additional 294,793 shares during the period. 69.90% of the stock is owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Up 0.0 %

Shares of LYV stock opened at $84.75 on Tuesday. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 119.37 and a beta of 1.29. Live Nation Entertainment, Inc. has a 1 year low of $64.25 and a 1 year high of $99.66. The company has a debt-to-equity ratio of 82.73, a current ratio of 1.08 and a quick ratio of 1.08. The company’s fifty day simple moving average is $70.96 and its two-hundred day simple moving average is $72.44.

Live Nation Entertainment (NYSE:LYV – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.13). Live Nation Entertainment had a return on equity of 226.22% and a net margin of 1.90%. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $3.40 billion. As a group, analysts anticipate that Live Nation Entertainment, Inc. will post 0.4 earnings per share for the current year.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. StockNews.com started coverage on shares of Live Nation Entertainment in a research note on Thursday, May 18th. They set a “hold” rating for the company. TheStreet downgraded Live Nation Entertainment from a “c-” rating to a “d+” rating in a research report on Friday, March 3rd. Roth Capital initiated coverage on Live Nation Entertainment in a report on Wednesday, March 22nd. They set a “neutral” rating on the stock. Rosenblatt Securities raised their price target on shares of Live Nation Entertainment from $101.00 to $105.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Finally, Roth Mkm initiated coverage on Live Nation Entertainment in a report on Wednesday, March 22nd. They issued a “neutral” rating and a $72.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.55.

Insider Activity

In other Live Nation Entertainment news, EVP Michael Rowles sold 100,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $78.00, for a total transaction of $7,800,000.00. Following the transaction, the executive vice president now directly owns 157,786 shares of the company’s stock, valued at approximately $12,307,308. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.01% of the stock is owned by corporate insiders.

Live Nation Entertainment Profile

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Live Nation Entertainment, Inc operates as an entertainment company. The firm engages in producing, marketing, and selling live concerts for artists via its global concert pipe. It operates through the following segments: Concerts, Sponsorship and Advertising, and Ticketing. The Concerts segment is involved in the promotion of live music events in owned or operated venues and in rented third-party venues.