Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYVFree Report) by 46.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,141,272 shares of the company’s stock after purchasing an additional 361,103 shares during the period. DAVENPORT & Co LLC owned 0.50% of Live Nation Entertainment worth $107,008,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LYV. Vanguard Group Inc. increased its position in shares of Live Nation Entertainment by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock valued at $1,823,315,000 after acquiring an additional 317,335 shares during the period. Select Equity Group L.P. boosted its holdings in Live Nation Entertainment by 8.1% in the first quarter. Select Equity Group L.P. now owns 11,512,128 shares of the company’s stock valued at $805,849,000 after purchasing an additional 862,050 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Live Nation Entertainment by 5.1% in the third quarter. Canada Pension Plan Investment Board now owns 8,801,337 shares of the company’s stock valued at $730,863,000 after purchasing an additional 429,650 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Live Nation Entertainment by 0.5% in the third quarter. Principal Financial Group Inc. now owns 7,108,633 shares of the company’s stock valued at $590,301,000 after purchasing an additional 33,215 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Live Nation Entertainment by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,606,439 shares of the company’s stock valued at $460,733,000 after purchasing an additional 323,756 shares during the last quarter. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LYV has been the topic of several recent research reports. Morgan Stanley upped their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Roth Capital raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating in a report on Thursday, January 11th. Oppenheimer upped their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Roth Mkm raised shares of Live Nation Entertainment from a “neutral” rating to a “buy” rating and increased their target price for the stock from $92.00 to $114.00 in a research note on Friday, January 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $116.40.

Get Our Latest Research Report on Live Nation Entertainment

Live Nation Entertainment Price Performance

Live Nation Entertainment stock traded up $0.66 during midday trading on Tuesday, reaching $104.88. The company had a trading volume of 2,369,171 shares, compared to its average volume of 2,234,585. The company has a market capitalization of $24.21 billion, a P/E ratio of 78.86 and a beta of 1.30. Live Nation Entertainment, Inc. has a 12-month low of $64.96 and a 12-month high of $107.24. The firm’s fifty day simple moving average is $96.41 and its 200-day simple moving average is $89.96. The company has a debt-to-equity ratio of 9.30, a current ratio of 0.96 and a quick ratio of 0.96.

Live Nation Entertainment (NYSE:LYVGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.85% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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