Live Nation Entertainment, Inc. (NYSE:LYV) Stock Position Boosted by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 701,601 shares of the company’s stock after acquiring an additional 16,489 shares during the period. Stephens Investment Management Group LLC’s holdings in Live Nation Entertainment were worth $76,818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at $41,000. First Trust Direct Indexing L.P. lifted its holdings in Live Nation Entertainment by 17.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,057 shares of the company’s stock valued at $335,000 after acquiring an additional 463 shares during the last quarter. WASHINGTON TRUST Co boosted its position in shares of Live Nation Entertainment by 1.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,519 shares of the company’s stock valued at $13,305,000 after purchasing an additional 1,554 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Live Nation Entertainment by 0.4% in the 3rd quarter. New York State Teachers Retirement System now owns 139,835 shares of the company’s stock worth $15,311,000 after purchasing an additional 548 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Live Nation Entertainment by 21.3% in the 3rd quarter. abrdn plc now owns 49,028 shares of the company’s stock worth $5,344,000 after purchasing an additional 8,619 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors.

Insider Activity

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, the executive vice president now owns 167,447 shares in the company, valued at $16,349,525.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 177,000 shares of company stock worth $17,238,181. 2.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYV has been the topic of several recent research reports. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft boosted their target price on Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America started coverage on Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $123.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Finally, Roth Mkm lifted their target price on shares of Live Nation Entertainment from $120.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Live Nation Entertainment Stock Down 0.1 %

Live Nation Entertainment stock opened at $117.13 on Friday. The firm has a market cap of $26.98 billion, a PE ratio of 110.50, a P/E/G ratio of 2.81 and a beta of 1.35. The company has a debt-to-equity ratio of 9.22, a quick ratio of 0.92 and a current ratio of 0.92. Live Nation Entertainment, Inc. has a twelve month low of $78.18 and a twelve month high of $119.47. The firm’s 50 day moving average price is $106.62 and its two-hundred day moving average price is $98.09.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Tuesday, July 30th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the firm earned $1.02 earnings per share. Live Nation Entertainment’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.19 EPS for the current fiscal year.

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.