Managed Asset Portfolios LLC Buys 263 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Managed Asset Portfolios LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 0.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 40,303 shares of the company’s stock after acquiring an additional 263 shares during the period. Managed Asset Portfolios LLC’s holdings in Live Nation Entertainment were worth $4,413,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Select Equity Group L.P. increased its stake in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. D1 Capital Partners L.P. increased its position in Live Nation Entertainment by 44.6% in the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after acquiring an additional 1,093,000 shares during the period. Vulcan Value Partners LLC lifted its holdings in shares of Live Nation Entertainment by 46.5% during the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock worth $252,663,000 after purchasing an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after purchasing an additional 476,981 shares during the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in Live Nation Entertainment in the second quarter valued at $20,453,000. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Stock Up 1.2 %

Shares of NYSE:LYV opened at $140.29 on Friday. 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 52-week low of $81.38 and a 52-week high of $140.29. The business’s 50 day simple moving average is $116.74 and its two-hundred day simple moving average is $102.23. The firm has a market cap of $32.60 billion, a P/E ratio of 149.24, a PEG ratio of 3.75 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the business earned $1.78 EPS. Live Nation Entertainment’s quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts forecast that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on LYV shares. Bank of America upped their price target on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Citigroup boosted their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim lifted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer boosted their target price on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $141.53.

Insider Buying and Selling at Live Nation Entertainment

In related news, EVP Michael Rowles sold 35,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This represents a 17.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment 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 $360,956,212.50. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,799 shares of company stock valued at $16,449,718. Corporate insiders own 2.72% of the company’s stock.

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.