K.J. Harrison & Partners Inc Increases Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

K.J. Harrison & Partners Inc increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 24,250 shares of the company’s stock after buying an additional 1,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Live Nation Entertainment were worth $3,134,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LYV. ValueAct Holdings L.P. purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at approximately $111,094,000. PointState Capital LP acquired a new position in shares of Live Nation Entertainment during the third quarter worth $102,762,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Live Nation Entertainment by 55.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after buying an additional 387,008 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Live Nation Entertainment by 37.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after buying an additional 385,143 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after acquiring an additional 321,832 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Live Nation Entertainment Trading Down 1.8 %

NYSE:LYV opened at $141.86 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock’s 50 day simple moving average is $139.87 and its 200-day simple moving average is $123.69. Live Nation Entertainment, Inc. has a 12-month low of $86.81 and a 12-month high of $157.75. The firm has a market cap of $32.96 billion, a P/E ratio of 52.15, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Equities analysts anticipate that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $155.40, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research analyst reports. Citigroup upped their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Bank of America upped their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI lifted their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley lifted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.00.

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.