Live Nation Entertainment, Inc. (NYSE:LYV) Shares Bought by Blue Trust Inc.

Blue Trust Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 385.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529 shares of the company’s stock after buying an additional 420 shares during the quarter. Blue Trust Inc.’s holdings in Live Nation Entertainment were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of LYV. Net Worth Advisory Group purchased a new position in shares of Live Nation Entertainment in the third quarter valued at $220,000. V Square Quantitative Management LLC boosted its position in shares of Live Nation Entertainment by 16.0% in the third quarter. V Square Quantitative Management LLC now owns 4,992 shares of the company’s stock worth $547,000 after acquiring an additional 687 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Live Nation Entertainment by 5.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,848 shares of the company’s stock valued at $1,845,000 after purchasing an additional 802 shares during the period. Baskin Financial Services Inc. increased its position in Live Nation Entertainment by 0.8% during the third quarter. Baskin Financial Services Inc. now owns 324,702 shares of the company’s stock worth $35,552,000 after purchasing an additional 2,683 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Live Nation Entertainment by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock worth $728,000 after purchasing an additional 95 shares during the period. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Live Nation Entertainment

In related news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares in the company, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ping Fu sold 1,701 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the transaction, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the completion of the sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LYV. Deutsche Bank Aktiengesellschaft upped their price objective on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Macquarie lifted their price objective on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Benchmark reaffirmed a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Finally, Oppenheimer increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment has a consensus rating of “Moderate Buy” and a consensus target price of $124.00.

Live Nation Entertainment Price Performance

LYV stock opened at $117.13 on Friday. The stock’s 50 day moving average is $106.62 and its two-hundred day moving average is $98.09. Live Nation Entertainment, Inc. has a 52-week low of $78.18 and a 52-week high of $119.47. The company has a market capitalization of $26.98 billion, a PE ratio of 110.50, a P/E/G ratio of 2.78 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the business posted $1.02 EPS. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 1.18 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

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.