Bradley Foster & Sargent Inc. CT Raises Stock Position in Live Nation Entertainment, Inc. $LYV

Bradley Foster & Sargent Inc. CT boosted its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 368.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 68,557 shares of the company’s stock after acquiring an additional 53,910 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Live Nation Entertainment were worth $10,456,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LYV. Principal Financial Group Inc. increased its stake in shares of Live Nation Entertainment by 3.4% during the first quarter. Principal Financial Group Inc. now owns 11,095,305 shares of the company’s stock worth $1,692,151,000 after purchasing an additional 367,624 shares in the last quarter. Independent Franchise Partners LLP raised its position in shares of Live Nation Entertainment by 3.5% during the 4th quarter. Independent Franchise Partners LLP now owns 5,733,718 shares of the company’s stock worth $817,055,000 after purchasing an additional 193,104 shares during the last quarter. Geode Capital Management LLC lifted its stake in Live Nation Entertainment by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock valued at $610,707,000 after buying an additional 20,165 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in Live Nation Entertainment by 37.9% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock worth $569,503,000 after buying an additional 1,099,350 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Live Nation Entertainment by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after buying an additional 123,800 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,776 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the transaction, the executive vice president owned 204,716 shares of the company’s stock, valued at approximately $33,622,555.84. The trade was a 23.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the completion of the sale, the executive vice president directly owned 188,751 shares of the company’s stock, valued at $31,345,878.57. This represents a 33.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 0.7%

Shares of Live Nation Entertainment stock opened at $177.29 on Friday. The stock has a market cap of $41.76 billion, a P/E ratio of -100.16 and a beta of 1.11. The stock’s 50 day simple moving average is $173.49 and its 200-day simple moving average is $161.07. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $188.00. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.35) by ($1.50). Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business posted ($0.32) EPS. Live Nation Entertainment’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on LYV shares. Wells Fargo & Company increased their target price on Live Nation Entertainment from $199.00 to $222.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Susquehanna lowered Live Nation Entertainment from a “positive” rating to a “neutral” rating and lifted their price target for the stock from $181.00 to $186.00 in a research note on Tuesday. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $192.00 to $202.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Citizens Jmp increased their price objective on Live Nation Entertainment from $190.00 to $215.00 and gave the company a “market outperform” rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Live Nation Entertainment in a research note on Thursday, June 4th. Twenty analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $195.95.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.