Callan Family Office LLC Buys New Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Callan Family Office LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,506 shares of the company’s stock, valued at approximately $713,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Welch & Forbes LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $238,000. Inceptionr LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $2,364,000. Arizona State Retirement System increased its holdings in Live Nation Entertainment by 1.6% during the 4th quarter. Arizona State Retirement System now owns 46,827 shares of the company’s stock worth $6,064,000 after purchasing an additional 752 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Live Nation Entertainment during the 4th quarter worth approximately $8,737,000. Finally, M&T Bank Corp increased its holdings in Live Nation Entertainment by 46.7% during the 4th quarter. M&T Bank Corp now owns 9,885 shares of the company’s stock worth $1,280,000 after purchasing an additional 3,145 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LYV shares. Bank of America boosted their price objective on Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, February 24th. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Guggenheim upped their target price on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $157.27.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction 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 sale, the executive vice president now owns 195,346 shares in the company, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 2.7 %

NYSE:LYV opened at $127.56 on Friday. The company has a market cap of $29.77 billion, a P/E ratio of 46.90, a P/E/G ratio of 1.81 and a beta of 1.38. The stock’s fifty day moving average price is $140.47 and its two-hundred day moving average price is $125.78. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. 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 posted its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion for 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%. As a group, analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

About Live Nation Entertainment

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.