2,000 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Harbor Advisors LLC

Harbor Advisors LLC purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,000 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hilltop Holdings Inc. bought a new stake in shares of Live Nation Entertainment in the third quarter worth $407,000. Chevy Chase Trust Holdings LLC increased its position in Live Nation Entertainment by 7.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 84,477 shares of the company’s stock worth $9,249,000 after buying an additional 5,955 shares during the period. Benjamin Edwards Inc. lifted its position in shares of Live Nation Entertainment by 1,575.8% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,441 shares of the company’s stock valued at $486,000 after buying an additional 4,176 shares during the last quarter. Edgestream Partners L.P. increased its position in Live Nation Entertainment by 102.1% during the third quarter. Edgestream Partners L.P. now owns 5,308 shares of the company’s stock valued at $581,000 after acquiring an additional 2,681 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock worth $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Roth Mkm boosted their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Oppenheimer lifted their price objective on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Citigroup lifted 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. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $137.72 on Tuesday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $32.00 billion, a PE ratio of 146.51, a price-to-earnings-growth ratio of 3.75 and a beta of 1.37. The business has a 50 day simple moving average of $120.38 and a 200-day simple moving average of $103.79. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $141.18.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same quarter last year, the business posted $1.78 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. Equities analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was 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 of the company’s stock, valued at $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,799 shares of company stock valued at $16,449,718. 2.72% of the stock is owned by 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.