7,142 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,142 shares of the company’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group purchased a new position in shares of Live Nation Entertainment in the third quarter worth approximately $31,000. World Investment Advisors LLC purchased a new position in shares of Live Nation Entertainment in the third quarter worth approximately $38,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment in the third quarter worth approximately $42,000. Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $44,000. 74.52% of the stock is currently owned by institutional investors.

Insider Activity at Live Nation Entertainment

In related news, EVP Michael Rowles sold 63,136 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Hinson sold 500 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company’s stock, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 in the last ninety days. 2.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LYV shares. Macquarie lifted their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Bank of America boosted their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group boosted their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.27.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $122.06 on Friday. The firm has a fifty day simple moving average of $138.85 and a 200-day simple moving average of $127.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The stock has a market capitalization of $28.49 billion, a price-to-earnings ratio of 44.88, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

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.