TCW Group Inc. Increases Position in Live Nation Entertainment, Inc. (NYSE:LYV)

TCW Group Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 19.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,662 shares of the company’s stock after purchasing an additional 2,224 shares during the quarter. TCW Group Inc.’s holdings in Live Nation Entertainment were worth $1,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LYV. Creative Financial Designs Inc. ADV lifted its position in Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after buying an additional 200 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after purchasing an additional 490 shares during the period. Tobam acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $59,000. Finally, Headlands Technologies LLC purchased a new position in Live Nation Entertainment during the third quarter worth about $88,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $120.00 price target on shares of Live Nation Entertainment in a report on Friday. Rosenblatt Securities lifted their target price on Live Nation Entertainment from $119.00 to $122.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Redburn Atlantic upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the stock from $114.00 to $115.00 in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Live Nation Entertainment from $120.00 to $121.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, TD Cowen reaffirmed a “buy” rating and set a $108.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment has a consensus rating of “Moderate Buy” and an average price target of $116.42.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.85% of the stock is owned by insiders.

Live Nation Entertainment Stock Up 2.7 %

Shares of NYSE:LYV traded up $2.51 during trading on Friday, hitting $95.99. The company’s stock had a trading volume of 2,743,284 shares, compared to its average volume of 2,327,617. The company has a market capitalization of $22.22 billion, a PE ratio of 91.42, a P/E/G ratio of 1.96 and a beta of 1.34. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $107.24. The business has a 50 day moving average price of $98.02 and a two-hundred day moving average price of $93.43.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.32). Live Nation Entertainment had a return on equity of 90.67% and a net margin of 2.22%. The company had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the company earned ($0.25) EPS. Live Nation Entertainment’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.38 EPS for the current fiscal year.

About Live Nation Entertainment

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.