GAMMA Investing LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

GAMMA Investing LLC purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,720 shares of the company’s stock, valued at approximately $153,000.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in shares of Live Nation Entertainment by 0.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,819 shares of the company’s stock valued at $2,324,000 after purchasing an additional 117 shares during the last quarter. Hohimer Wealth Management LLC raised its position in shares of Live Nation Entertainment by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 11,512 shares of the company’s stock valued at $956,000 after purchasing an additional 123 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Live Nation Entertainment by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,252 shares of the company’s stock valued at $1,100,000 after purchasing an additional 130 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its position in shares of Live Nation Entertainment by 1.1% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 13,179 shares of the company’s stock valued at $1,094,000 after purchasing an additional 146 shares during the last quarter. Finally, Raymond James Trust N.A. raised its position in shares of Live Nation Entertainment by 5.9% in the 4th quarter. Raymond James Trust N.A. now owns 2,628 shares of the company’s stock valued at $246,000 after purchasing an additional 147 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Activity at Live Nation Entertainment

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

Analyst Ratings Changes

LYV has been the subject of several research analyst reports. Morgan Stanley increased 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. Oppenheimer increased their price objective on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Roth Mkm reissued a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 23rd. Finally, Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $116.30.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $89.83 on Friday. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 67.54 and a beta of 1.30. The company has a 50 day moving average price of $98.87 and a 200-day moving average price of $91.56. Live Nation Entertainment, Inc. has a 1-year low of $65.20 and a 1-year high of $107.24.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.62 EPS for the current year.

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.