7,369 Shares in Live Nation Entertainment, Inc. (NYSE:LYV) Purchased by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,369 shares of the company’s stock, valued at approximately $954,000.

Several other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Live Nation Entertainment by 1.5% during the 4th quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after acquiring an additional 105,648 shares during the period. Geode Capital Management LLC increased its position in shares of Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the period. Cantillon Capital Management LLC raised its stake in Live Nation Entertainment by 0.5% in the fourth quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after purchasing an additional 15,891 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Live Nation Entertainment by 19.5% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,733,176 shares of the company’s stock worth $353,946,000 after purchasing an additional 445,704 shares during the period. Finally, Norges Bank acquired a new stake in Live Nation Entertainment during the fourth quarter worth about $255,955,000. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LYV shares. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. JPMorgan Chase & Co. lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley raised their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Bank of America raised their target price 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $157.27.

Live Nation Entertainment Trading Up 4.5 %

LYV opened at $130.71 on Tuesday. The company has a market cap of $30.51 billion, a P/E ratio of 48.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a fifty day moving average price of $138.04 and a two-hundred day moving average price of $129.07. 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.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The business had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In other 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 value of $9,811,334.40. Following the completion of the sale, the executive vice president now 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 legal filing with the SEC, which is available through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the sale, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,702 shares of company stock valued at $10,497,143. 2.72% of the stock is owned by corporate insiders.

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.