Pittenger & Anderson Inc. Sells 1,311 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Pittenger & Anderson Inc. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,434 shares of the company’s stock after selling 1,311 shares during the period. Pittenger & Anderson Inc.’s holdings in Live Nation Entertainment were worth $3,770,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in shares of Live Nation Entertainment by 3.8% in the third quarter. Amalgamated Bank now owns 33,055 shares of the company’s stock valued at $3,619,000 after purchasing an additional 1,210 shares during the period. QRG Capital Management Inc. increased its stake in shares of Live Nation Entertainment by 7.0% during the third quarter. QRG Capital Management Inc. now owns 15,517 shares of the company’s stock valued at $1,699,000 after buying an additional 1,017 shares during the period. Van ECK Associates Corp raised its holdings in shares of Live Nation Entertainment by 0.8% in the third quarter. Van ECK Associates Corp now owns 50,783 shares of the company’s stock valued at $5,826,000 after acquiring an additional 410 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in Live Nation Entertainment by 2.4% during the 3rd quarter. Stephens Investment Management Group LLC now owns 701,601 shares of the company’s stock worth $76,818,000 after acquiring an additional 16,489 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Live Nation Entertainment during the 3rd quarter valued at about $41,000. Institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America initiated coverage on shares of Live Nation Entertainment in a research note on Wednesday, September 4th. They set a “buy” rating and a $125.00 price objective on the stock. Macquarie increased their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Roth Mkm boosted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Oppenheimer raised their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $124.00.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brian Capo sold 5,000 shares of Live Nation Entertainment stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total value of $483,050.00. Following the sale, the chief accounting officer now directly owns 12,327 shares of the company’s stock, valued at $1,190,911.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of LYV stock opened at $117.21 on Tuesday. Live Nation Entertainment, Inc. has a fifty-two week low of $81.38 and a fifty-two week high of $119.47. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $27.00 billion, a price-to-earnings ratio of 110.58, a PEG ratio of 2.81 and a beta of 1.33. The stock’s 50-day simple moving average is $107.03 and its 200-day simple moving average is $98.30.

About Live Nation Entertainment

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.