Keystone Investors PTE Ltd. Makes New $3.77 Million Investment in Live Nation Entertainment, Inc. (NYSE:LYV)

Keystone Investors PTE Ltd. bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,076 shares of the company’s stock, valued at approximately $3,765,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Live Nation Entertainment by 17.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 493 shares of the company’s stock valued at $65,000 after acquiring an additional 75 shares during the last quarter. SOA Wealth Advisors LLC. lifted its stake in shares of Live Nation Entertainment by 19.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Western Pacific Wealth Management LP boosted its holdings in Live Nation Entertainment by 10.4% during the fourth quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after buying an additional 82 shares in the last quarter. UMB Bank n.a. grew its position in Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company’s stock valued at $69,000 after buying an additional 93 shares during the period. Finally, Gilbert & Cook Inc. boosted its holdings in Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 3.5 %

Shares of LYV opened at $127.36 on Tuesday. The firm has a 50 day simple moving average of $138.67 and a 200-day simple moving average of $127.95. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 46.83, a price-to-earnings-growth 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.

Live Nation Entertainment (NYSE:LYV) last issued 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 for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Equities analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This trade represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,702 shares of company stock valued at $10,497,143. Insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

LYV has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research note on Thursday, February 20th. The Goldman Sachs Group increased their price target 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 reaffirmed a “buy” rating and set a $146.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Roth Mkm boosted their price objective on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Guggenheim raised their price target on Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment 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.