Trust Investment Advisors Buys Shares of 1,894 Live Nation Entertainment, Inc. (NYSE:LYV)

Trust Investment Advisors acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,894 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds also recently bought and sold shares of LYV. Principal Financial Group Inc. lifted its stake in shares of 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 worth $787,950,000 after purchasing an additional 87,032 shares during the period. PNC Financial Services Group Inc. increased its holdings in Live Nation Entertainment by 23.3% during 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. 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 acquiring an additional 107,844 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Live Nation Entertainment by 165.7% in 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. Finally, Daiwa Securities Group Inc. increased its stake in shares of Live Nation Entertainment by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,419 shares of the company’s stock worth $2,126,000 after purchasing an additional 2,597 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on LYV. Macquarie upped their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Benchmark reissued a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Bank of America upped their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group raised their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.27.

Insiders Place Their Bets

In other news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction 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 approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock valued at $10,497,143 over the last 90 days. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $127.15 on Wednesday. The firm has a market capitalization of $29.68 billion, a price-to-earnings ratio of 46.75, a PEG ratio of 1.81 and a beta of 1.38. 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 business has a 50 day simple moving average of $138.58 and a 200-day simple moving average of $128.19. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current 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.