Welch & Forbes LLC Buys Shares of 1,840 Live Nation Entertainment, Inc. (NYSE:LYV)

Welch & Forbes LLC purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,840 shares of the company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the third quarter worth $31,000. World Investment Advisors LLC acquired a new position in shares of Live Nation Entertainment during the 3rd quarter worth $38,000. Morse Asset Management Inc acquired a new stake in Live Nation Entertainment in the 3rd quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new position in Live Nation Entertainment during the 4th quarter valued at about $42,000. Finally, Retirement Wealth Solutions LLC acquired a new position in Live Nation Entertainment during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Stock Down 2.7 %

Shares of LYV opened at $127.56 on Friday. Live Nation Entertainment, Inc. has a fifty-two week low of $86.81 and a fifty-two week high of $157.75. The company’s fifty day moving average is $140.47 and its two-hundred day moving average is $125.78. The firm has a market cap of $29.77 billion, a PE ratio of 46.90, a price-to-earnings-growth ratio of 1.81 and a beta of 1.38. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $1.49. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. Analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Transactions at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 195,346 shares in the company, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LYV. Roth Mkm increased their price target on shares of Live Nation Entertainment from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America boosted their price target on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Macquarie increased their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

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.