Okabena Investment Services Inc. Boosts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Okabena Investment Services Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,549 shares of the company’s stock after buying an additional 357 shares during the period. Okabena Investment Services Inc.’s holdings in Live Nation Entertainment were worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in LYV. Cerity Partners LLC increased its position in Live Nation Entertainment by 165.7% during the 3rd quarter. Cerity Partners LLC now owns 45,154 shares of the company’s stock worth $4,944,000 after purchasing an additional 28,162 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Live Nation Entertainment by 12.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company’s stock worth $106,319,000 after purchasing an additional 107,844 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after buying an additional 385,143 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Live Nation Entertainment by 23.3% in the third quarter. PNC Financial Services Group Inc. now owns 21,022 shares of the company’s stock valued at $2,302,000 after buying an additional 3,976 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Live Nation Entertainment during the third quarter valued at approximately $441,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 1.2 %

Shares of Live Nation Entertainment stock opened at $140.29 on Friday. Live Nation Entertainment, Inc. has a twelve month low of $81.38 and a twelve month high of $140.29. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 149.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.33. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a fifty day moving average price of $116.74 and a 200 day moving average price of $102.23.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Equities research analysts forecast that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup boosted their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Bank of America raised their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Macquarie upped their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.53.

Insider Buying and Selling at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm’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 owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 17.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 5,640 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 over the last 90 days. 2.72% of the stock is owned by corporate insiders.

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.