Live Nation Entertainment, Inc. $LYV Position Boosted by Holocene Advisors LP

Holocene Advisors LP increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 127.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 814,163 shares of the company’s stock after purchasing an additional 456,373 shares during the quarter. Holocene Advisors LP owned 0.35% of Live Nation Entertainment worth $133,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vident Advisory LLC grew its position in Live Nation Entertainment by 2.1% in the second quarter. Vident Advisory LLC now owns 3,622 shares of the company’s stock worth $548,000 after buying an additional 75 shares during the last quarter. Prairie Wealth Advisors Inc. lifted its position in shares of Live Nation Entertainment by 5.0% during the 3rd quarter. Prairie Wealth Advisors Inc. now owns 1,665 shares of the company’s stock valued at $272,000 after acquiring an additional 80 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Live Nation Entertainment by 24.4% during the 3rd quarter. Private Trust Co. NA now owns 418 shares of the company’s stock worth $68,000 after acquiring an additional 82 shares in the last quarter. Ameriflex Group Inc. grew its holdings in shares of Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock worth $27,000 after acquiring an additional 84 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of Live Nation Entertainment by 22.2% during the third quarter. GW&K Investment Management LLC now owns 468 shares of the company’s stock worth $76,000 after purchasing an additional 85 shares during the period. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Live Nation Entertainment from $160.00 to $180.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Rothschild & Co Redburn upgraded Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $166.00 to $193.00 in a report on Friday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a research note on Monday, March 9th. Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Finally, Evercore restated an “outperform” rating and set a $198.00 price target on shares of Live Nation Entertainment in a report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.40.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 944 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total transaction of $156,581.28. Following the completion of the sale, the director directly owned 48,030 shares in the company, valued at approximately $7,966,736.10. This trade represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Stock Down 3.9%

NYSE:LYV opened at $154.14 on Monday. The business’s fifty day moving average price is $151.35 and its 200 day moving average price is $150.20. The firm has a market capitalization of $36.19 billion, a price-to-earnings ratio of -642.25 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 8.51. Live Nation Entertainment, Inc. has a 1-year low of $113.20 and a 1-year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The business had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.12 billion. During the same quarter in the previous year, the business posted $0.58 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.