Creative Planning Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Creative Planning increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,501 shares of the company’s stock after acquiring an additional 326 shares during the period. Creative Planning’s holdings in Live Nation Entertainment were worth $2,672,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. YHB Investment Advisors Inc. acquired a new position in shares of Live Nation Entertainment during the 1st quarter worth $32,000. Rise Advisors LLC grew its position in Live Nation Entertainment by 90.3% during the first quarter. Rise Advisors LLC now owns 335 shares of the company’s stock worth $35,000 after buying an additional 159 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. increased its stake in Live Nation Entertainment by 67.4% in the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Live Nation Entertainment in the second quarter valued at $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Up 1.7 %

LYV stock opened at $110.87 on Friday. The company has a market capitalization of $25.47 billion, a P/E ratio of 105.59, a PEG ratio of 2.46 and a beta of 1.35. The firm has a 50 day simple moving average of $98.36 and a 200-day simple moving average of $96.65. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a twelve month low of $76.48 and a twelve month high of $112.00.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at $5,626,742.79. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 1,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now owns 59,789 shares of the company’s stock, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,000 shares of company stock valued at $17,238,181. Company insiders own 2.85% of the company’s stock.

Analysts Set New Price Targets

LYV has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Benchmark reissued a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. Macquarie restated an “outperform” rating and set a $125.00 target price on shares of Live Nation Entertainment in a research report on Wednesday, July 31st. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $120.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $119.46.

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.