Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 86.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,577 shares of the company’s stock after acquiring an additional 6,282 shares during the period. Quantbot Technologies LP’s holdings in Live Nation Entertainment were worth $1,487,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $41,000. Cromwell Holdings LLC raised its position in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after acquiring an additional 88 shares in the last quarter. UMB Bank n.a. lifted its stake in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after purchasing an additional 176 shares during the last quarter. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment in the second quarter worth $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock valued at $16,449,718 in the last 90 days. Corporate insiders own 2.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price objective on shares of Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Bank of America boosted their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Stock Performance

LYV opened at $138.29 on Friday. The firm has a market capitalization of $32.13 billion, a PE ratio of 148.16, a PEG ratio of 3.79 and a beta of 1.33. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $141.18. The business’s 50-day simple moving average is $119.69 and its 200 day simple moving average is $103.38. 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 (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the business posted $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

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.