Quantum Private Wealth LLC Acquires Shares of 2,046 Live Nation Entertainment, Inc. (NYSE:LYV)

Quantum Private Wealth LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,046 shares of the company’s stock, valued at approximately $224,000.

Several other institutional investors have also modified their holdings of LYV. Select Equity Group L.P. grew its position in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the period. D1 Capital Partners L.P. grew its position in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock valued at $332,171,000 after purchasing an additional 1,093,000 shares during the period. Vulcan Value Partners LLC grew its position in shares of Live Nation Entertainment by 46.5% in the second quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Live Nation Entertainment by 85.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock valued at $97,329,000 after purchasing an additional 476,981 shares during the period. Finally, Cantillon Capital Management LLC boosted its position in Live Nation Entertainment by 16.7% during the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after acquiring an additional 458,893 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

Live Nation Entertainment stock opened at $122.99 on Friday. The firm has a market cap of $28.33 billion, a PE ratio of 117.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.33. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $127.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. The company’s 50 day moving average is $109.01 and its two-hundred day moving average is $99.06.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Bank of America assumed 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 for the company. Oppenheimer upped their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Macquarie upped their price objective on shares of Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $132.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $124.73.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at $55,255,395. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now directly owns 566,722 shares in the company, valued at approximately $55,255,395. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last ninety days. 2.72% of the stock is owned by corporate insiders.

Live Nation Entertainment Company 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.