Live Nation Entertainment, Inc. (NYSE:LYV) Stock Holdings Increased by Okabena Investment Services Inc.

Okabena Investment Services Inc. grew its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,549 shares of the company’s stock after buying an additional 357 shares during the quarter. Okabena Investment Services Inc.’s holdings in Live Nation Entertainment were worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth about $41,000. Cromwell Holdings LLC boosted its holdings in shares of Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock valued at $47,000 after buying an additional 88 shares during the period. UMB Bank n.a. grew its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after buying an additional 176 shares during the last quarter. Finally, Family Firm Inc. acquired a new stake in Live Nation Entertainment during the second quarter worth about $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Trading Up 1.2 %

Live Nation Entertainment stock opened at $140.29 on Friday. Live Nation Entertainment, Inc. has a 12-month low of $81.38 and a 12-month high of $140.29. The stock has a market capitalization of $32.60 billion, a PE ratio of 149.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.33. The firm has a 50 day simple moving average of $116.74 and a 200-day simple moving average of $102.23. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $7.65 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $1.78 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,799 shares of company stock valued at $16,449,718 over the last three months. Company insiders own 2.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYV shares. Bank of America lifted their target price on Live Nation Entertainment from $125.00 to $149.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Oppenheimer upped their price objective on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. TD Cowen raised their target price on Live Nation Entertainment from $108.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Rosenblatt Securities restated a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $141.53.

Live Nation Entertainment Company 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.