First Trust Advisors LP Has $8.45 Million Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

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First Trust Advisors LP decreased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,941 shares of the company’s stock after selling 6,811 shares during the quarter. First Trust Advisors LP’s holdings in Live Nation Entertainment were worth $8,453,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LYV. Fred Alger Management LLC increased its position in Live Nation Entertainment by 245.3% during the 4th quarter. Fred Alger Management LLC now owns 1,976,890 shares of the company’s stock worth $141,288,000 after buying an additional 1,404,360 shares during the period. Norges Bank bought a new position in Live Nation Entertainment during the 4th quarter worth $96,938,000. Findlay Park Partners LLP increased its position in Live Nation Entertainment by 15.5% during the 4th quarter. Findlay Park Partners LLP now owns 7,552,000 shares of the company’s stock worth $539,741,000 after buying an additional 1,015,000 shares during the period. Geode Capital Management LLC increased its position in Live Nation Entertainment by 51.5% during the 4th quarter. Geode Capital Management LLC now owns 2,145,271 shares of the company’s stock worth $152,995,000 after buying an additional 729,373 shares during the period. Finally, Point72 Asset Management L.P. increased its position in Live Nation Entertainment by 1,319.1% during the 4th quarter. Point72 Asset Management L.P. now owns 619,323 shares of the company’s stock worth $44,263,000 after buying an additional 575,680 shares during the period. 70.72% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Michael Rapino purchased 25,650 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $38.98 per share, with a total value of $999,837.00. Following the completion of the purchase, the chief executive officer now owns 2,420,129 shares of the company’s stock, valued at approximately $94,336,628.42. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ariel Emanuel sold 71,394 shares of Live Nation Entertainment stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $58.26, for a total value of $4,159,414.44. Following the sale, the director now directly owns 2,380 shares in the company, valued at $138,658.80. The disclosure for this sale can be found here. In the last quarter, insiders acquired 30,300 shares of company stock worth $1,185,318. Company insiders own 4.82% of the company’s stock.

Several research analysts have weighed in on LYV shares. Morgan Stanley increased their price objective on Live Nation Entertainment from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Cfra upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and decreased their price target for the stock from $68.00 to $65.00 in a research report on Friday, February 28th. ValuEngine upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Cowen decreased their price target on Live Nation Entertainment from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, Zacks Investment Research upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, May 14th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average target price of $65.00.

Live Nation Entertainment stock opened at $46.49 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $21.70 and a 12-month high of $76.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.09. The business’s 50-day moving average price is $39.78 and its two-hundred day moving average price is $58.32.

Live Nation Entertainment (NYSE:LYV) last released its earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.36). Live Nation Entertainment had a negative net margin of 0.91% and a negative return on equity of 7.21%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned ($0.31) EPS. The business’s revenue was down 21.0% on a year-over-year basis. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post -4.12 EPS for the current year.

About Live Nation Entertainment

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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