Rockingstone Advisors LLC Acquires 130 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Rockingstone Advisors LLC grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,584 shares of the company’s stock after purchasing an additional 130 shares during the period. Rockingstone Advisors LLC’s holdings in Live Nation Entertainment were worth $830,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted its holdings in shares of Live Nation Entertainment by 19.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,858 shares of the company’s stock valued at $922,000 after acquiring an additional 1,599 shares in the last quarter. Shell Asset Management Co. acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $1,190,000. Hancock Whitney Corp boosted its holdings in shares of Live Nation Entertainment by 1.9% during the 4th quarter. Hancock Whitney Corp now owns 52,435 shares of the company’s stock valued at $4,908,000 after acquiring an additional 997 shares in the last quarter. Putnam Investments LLC boosted its holdings in shares of Live Nation Entertainment by 3.0% during the 4th quarter. Putnam Investments LLC now owns 1,188,099 shares of the company’s stock valued at $111,206,000 after acquiring an additional 35,132 shares in the last quarter. Finally, Honeycomb Asset Management LP acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $18,720,000. Institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $111.61 on Wednesday. The stock has a 50-day moving average price of $99.01 and a 200-day moving average price of $96.61. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $112.00. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The firm has a market cap of $25.64 billion, a PE ratio of 106.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.35.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYV. Macquarie raised their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.85.

Insider Activity at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the completion of the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brian Capo sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 177,000 shares of company stock valued at $17,238,181 in the last three months. Corporate insiders own 2.85% of the company’s stock.

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.