Wealth Enhancement Advisory Services LLC Grows Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Wealth Enhancement Advisory Services LLC increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 14.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,561 shares of the company’s stock after acquiring an additional 453 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Live Nation Entertainment were worth $390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYV. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Live Nation Entertainment by 19.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 184,309 shares of the company’s stock worth $19,494,000 after purchasing an additional 29,669 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $748,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Live Nation Entertainment by 22.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 102,709 shares of the company’s stock valued at $10,873,000 after acquiring an additional 18,931 shares in the last quarter. Select Equity Group L.P. raised its stake in shares of Live Nation Entertainment by 12.3% during the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after acquiring an additional 1,415,173 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of Live Nation Entertainment during the second quarter valued at approximately $3,985,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $123.00 on Friday. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $127.64. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 116.04, a PEG ratio of 3.11 and a beta of 1.33. The firm’s fifty day moving average is $109.51 and its two-hundred day moving average is $99.36.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total value of $164,248.56. Following the sale, the director now directly owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total transaction of $164,248.56. Following the transaction, the director now owns 15,128 shares of the company’s stock, valued at approximately $1,460,759.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on LYV shares. Macquarie boosted their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. Bank of America initiated coverage on shares of Live Nation Entertainment in a report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target on the stock. Roth Mkm lifted their price target on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average target price of $124.73.

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.