2,665 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Baird Financial Group Inc.
Baird Financial Group Inc. acquired 2,665 shares of Live Nation Entertainment, Inc. (NYSE:LYV) valued at approximately $345,000 in the fourth quarter. Other institutional investors also increased their stakes in the company. Insider trading activity included sales by CAO Brian Capo and Director Jeffrey T. Hinson. Analyst ratings for Live Nation have varied, with target prices ranging from $150 to $174. The stock has a consensus rating of "Moderate Buy" and opened at $147.80, reflecting a market capitalization of $34.26 billion.
Baird Financial Group Inc. purchased a new stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,665 shares of the company's stock, valued at approximately $345,000.
- Rocking the Charts: Why Live Nation Could Hit New Highs
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $40,000. Golden State Wealth Management LLC acquired a new stake in Live Nation Entertainment in the fourth quarter valued at $42,000. Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment during the 4th quarter valued at $44,000. Independence Bank of Kentucky bought a new position in Live Nation Entertainment during the 4th quarter valued at $45,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in Live Nation Entertainment during the 4th quarter valued at $53,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Live Nation Entertainment
In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were 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 owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction dated Wednesday, March 12th. The shares were 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 owns 52,624 shares of the company's stock, 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 68,702 shares of company stock worth $10,497,143 in the last 90 days. Corporate insiders own 3.01% of the company's stock.
Analyst Ratings Changes
- Live Nation’s Revenue Funnels Deliver a Half-Billion-Dollar Beat
LYV has been the topic of a number of research reports. Roth Mkm dropped their target price on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Susquehanna initiated coverage on shares of Live Nation Entertainment in a report on Monday, April 28th. They set a "positive" rating and a $155.00 target price on the stock. Macquarie increased their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Finally, Rosenblatt Securities dropped their target price on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.07.
Check Out Our Latest Stock Report on LYV
Live Nation Entertainment Stock Up 1.6%
- Live Nation stock rides the pent-up demand for live events
Live Nation Entertainment stock opened at $147.80 on Friday. The company has a 50-day simple moving average of $129.40 and a 200-day simple moving average of $133.87. The firm has a market capitalization of $34.26 billion, a P/E ratio of 54.34, a P/E/G ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. Live Nation Entertainment, Inc. has a one year low of $86.81 and a one year high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business's quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.
About Live Nation Entertainment
(Free Report)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.
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