Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Amalgamated Bank

Amalgamated Bank boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,845 shares of the company’s stock after purchasing an additional 1,038 shares during the period. Amalgamated Bank’s holdings in Live Nation Entertainment were worth $2,985,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LYV. Gilbert & Cook Inc. lifted its stake in shares of Live Nation Entertainment by 4.0% in the fourth quarter. Gilbert & Cook Inc. now owns 6,469 shares of the company’s stock worth $605,000 after acquiring an additional 249 shares in the last quarter. Brown Advisory Inc. acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at approximately $233,000. Coldstream Capital Management Inc. purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at approximately $225,000. Franklin Resources Inc. grew its position in shares of Live Nation Entertainment by 22.3% during the fourth quarter. Franklin Resources Inc. now owns 58,542 shares of the company’s stock worth $5,480,000 after buying an additional 10,661 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Live Nation Entertainment by 4.9% in the fourth quarter. US Bancorp DE now owns 21,030 shares of the company’s stock worth $1,968,000 after buying an additional 987 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LYV. 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 report on Wednesday, July 31st. Morgan Stanley reissued an “overweight” rating and issued a $120.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Benchmark reaffirmed a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. Oppenheimer boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $119.46.

Insiders Place Their Bets

In related news, Director Ping Fu sold 1,701 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 15,128 shares in the company, valued at $1,460,759.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ping Fu sold 1,701 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $96.56, for a total value of $164,248.56. Following the completion of the sale, the director now owns 15,128 shares in the company, valued at $1,460,759.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Joe Berchtold sold 29,310 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. 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. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE LYV opened at $104.64 on Tuesday. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24. 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 company has a market cap of $24.04 billion, a PE ratio of 99.66, a P/E/G ratio of 2.29 and a beta of 1.34. The stock has a 50 day simple moving average of $95.76 and a 200-day simple moving average of $96.14.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly 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). The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. Live Nation Entertainment’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.02 earnings per share. On average, equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.21 EPS for the current 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.