Proficio Capital Partners LLC Takes $8.74 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Proficio Capital Partners LLC purchased a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 67,470 shares of the company’s stock, valued at approximately $8,737,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYV. Principal Financial Group Inc. grew its stake in Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock valued at $787,950,000 after buying an additional 87,032 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Live Nation Entertainment by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 350,497 shares of the company’s stock valued at $38,376,000 after buying an additional 6,512 shares during the last quarter. Metis Global Partners LLC grew its stake in Live Nation Entertainment by 7.4% in the 3rd quarter. Metis Global Partners LLC now owns 5,073 shares of the company’s stock valued at $555,000 after buying an additional 350 shares during the last quarter. CIBC Asset Management Inc grew its stake in Live Nation Entertainment by 14.9% in the 3rd quarter. CIBC Asset Management Inc now owns 24,916 shares of the company’s stock valued at $2,728,000 after buying an additional 3,231 shares during the last quarter. Finally, Empirical Finance LLC grew its stake in Live Nation Entertainment by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock valued at $508,000 after buying an additional 105 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Trading Up 3.0 %

Shares of LYV stock opened at $119.25 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The company has a market capitalization of $27.83 billion, a P/E ratio of 43.84, a P/E/G ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average price of $139.52 and a 200 day moving average price of $126.62.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. Research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Roth Mkm raised their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group raised their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.27.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now directly owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,702 shares of company stock valued at $10,497,143. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Company 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.