HighPoint Advisor Group LLC Acquires Shares of 1,413 Live Nation Entertainment, Inc. (NYSE:LYV)

HighPoint Advisor Group LLC bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,413 shares of the company’s stock, valued at approximately $183,000.

Several other institutional investors also recently modified their holdings of LYV. Axiom Investors LLC DE increased its stake in shares of Live Nation Entertainment by 11.9% during the 4th quarter. Axiom Investors LLC DE now owns 594,658 shares of the company’s stock worth $77,008,000 after purchasing an additional 63,463 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Live Nation Entertainment by 98.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,538 shares of the company’s stock valued at $1,494,000 after buying an additional 5,712 shares during the period. Allstate Corp purchased a new position in shares of Live Nation Entertainment during the 4th quarter valued at $612,000. Brown Brothers Harriman & Co. increased its holdings in Live Nation Entertainment by 22.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,354 shares of the company’s stock worth $175,000 after acquiring an additional 251 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in Live Nation Entertainment by 1.2% in the 4th quarter. DnB Asset Management AS now owns 27,456 shares of the company’s stock valued at $3,556,000 after acquiring an additional 335 shares during the period. 74.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LYV has been the topic of several research reports. Bank of America boosted their price target on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Roth Mkm increased their target price on Live Nation Entertainment from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley boosted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $174.00 price target on shares of Live Nation Entertainment in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Insider Activity 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 dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the transaction, the executive vice president now owns 195,346 shares in the company, valued at approximately $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the completion of the sale, the director now directly owns 52,624 shares in the company, valued at $6,470,120.80. The trade was a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 68,702 shares of company stock valued at $10,497,143. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 4.0 %

NYSE LYV opened at $121.00 on Friday. The stock’s 50-day simple moving average is $137.16 and its two-hundred day simple moving average is $129.45. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 44.48, a PEG ratio of 1.81 and a beta of 1.31.

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