Blueshift Asset Management LLC Acquires Shares of 10,447 Live Nation Entertainment, Inc. (NYSE:LYV)

Blueshift Asset Management LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, Holdings Channel reports. The firm bought 10,447 shares of the company’s stock, valued at approximately $1,353,000.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Live Nation Entertainment in the third quarter worth about $31,000. World Investment Advisors LLC bought a new stake in shares of Live Nation Entertainment during the 3rd quarter worth approximately $38,000. Morse Asset Management Inc purchased a new position in Live Nation Entertainment during the 3rd quarter valued at $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the 4th quarter valued at about $44,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Macquarie raised their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, March 6th. The Goldman Sachs Group lifted their price objective on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Rosenblatt Securities reiterated a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. JPMorgan Chase & Co. boosted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Roth Mkm upped their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Buying and Selling

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade 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 worth $10,497,143 in the last 90 days. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Up 2.8 %

Shares of LYV stock opened at $122.51 on Thursday. The stock’s fifty day moving average price is $139.01 and its 200 day moving average price is $127.12. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The company has a market cap of $28.59 billion, a price-to-earnings ratio of 45.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The company had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share 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.