Quantbot Technologies LP Buys Shares of 6,415 Live Nation Entertainment, Inc. (NYSE:LYV)

Quantbot Technologies LP acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYVFree Report) during the third quarter, HoldingsChannel reports. The institutional investor acquired 6,415 shares of the company’s stock, valued at approximately $533,000.

Other hedge funds have also modified their holdings of the company. Providence Capital Advisors LLC lifted its position in Live Nation Entertainment by 6,674.2% in the first quarter. Providence Capital Advisors LLC now owns 2,100 shares of the company’s stock worth $30,000 after buying an additional 2,069 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Live Nation Entertainment in the 3rd quarter worth about $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Live Nation Entertainment by 67.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. KB Financial Partners LLC bought a new position in Live Nation Entertainment during the 1st quarter valued at about $41,000. Finally, Webster Bank N. A. bought a new stake in Live Nation Entertainment in the third quarter worth about $42,000. 70.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 119,100 shares of Live Nation Entertainment stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $92.91, for a total transaction of $11,065,581.00. Following the completion of the sale, the chief financial officer now owns 442,107 shares of the company’s stock, valued at approximately $41,076,161.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LYV shares. Evercore ISI upgraded Live Nation Entertainment from an “in-line” rating to an “outperform” rating and set a $100.00 price target on the stock in a report on Thursday, October 26th. Morgan Stanley upgraded shares of Live Nation Entertainment from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $100.00 to $110.00 in a report on Thursday, December 14th. Roth Capital upgraded shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research note on Thursday, January 11th. Guggenheim raised their price objective on Live Nation Entertainment from $124.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Roth Mkm upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and upped their target price for the stock from $92.00 to $114.00 in a report on Friday, January 12th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.91.

Check Out Our Latest Report on Live Nation Entertainment

Live Nation Entertainment Price Performance

NYSE LYV opened at $87.66 on Thursday. Live Nation Entertainment, Inc. has a 12-month low of $64.25 and a 12-month high of $101.74. The firm’s fifty day simple moving average is $89.57 and its two-hundred day simple moving average is $86.55. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 7.57. The firm has a market capitalization of $20.19 billion, a P/E ratio of 60.04 and a beta of 1.30.

About Live Nation Entertainment

(Free Report)

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 and streams associated content; and offers management and other services to artists.

Further Reading

Want to see what other hedge funds are holding LYV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Live Nation Entertainment, Inc. (NYSE:LYVFree Report).

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

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