Kornitzer Capital Management Inc. KS Raises Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Kornitzer Capital Management Inc. KS lifted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 430.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 124,837 shares of the company’s stock after purchasing an additional 101,300 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.05% of Live Nation Entertainment worth $11,685,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of LYV. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Live Nation Entertainment by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,075 shares of the company’s stock worth $2,126,000 after purchasing an additional 1,120 shares during the period. Raymond James Trust N.A. grew its holdings in shares of Live Nation Entertainment by 4.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,139 shares of the company’s stock worth $369,000 after purchasing an additional 130 shares during the period. Cibc World Market Inc. purchased a new stake in shares of Live Nation Entertainment during the 1st quarter worth about $421,000. Vontobel Holding Ltd. grew its holdings in shares of Live Nation Entertainment by 31.0% during the 1st quarter. Vontobel Holding Ltd. now owns 2,362 shares of the company’s stock worth $279,000 after purchasing an additional 559 shares during the period. Finally, Prudential PLC acquired a new position in Live Nation Entertainment during the 1st quarter worth approximately $294,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LYV shares. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Rosenblatt Securities reduced their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research report on Thursday, April 11th. Morgan Stanley boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen reissued a “buy” rating and set a $108.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Finally, Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $114.00 in a research report on Friday, January 12th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of “Moderate Buy” and an average target price of $115.70.

Live Nation Entertainment Stock Up 0.4 %

Shares of LYV traded up $0.32 during trading on Friday, reaching $89.96. The company’s stock had a trading volume of 2,697,148 shares, compared to its average volume of 2,231,335. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 67.65 and a beta of 1.30. Live Nation Entertainment, Inc. has a twelve month low of $64.96 and a twelve month high of $107.24. The company has a fifty day moving average of $99.01 and a two-hundred day moving average of $91.39.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. On average, sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity at Live Nation Entertainment

In related news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the sale, the director now directly owns 59,374 shares of the company’s stock, valued at approximately $5,967,087. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.85% of the company’s stock.

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.