Cibc World Markets Corp Increases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Cibc World Markets Corp increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,166 shares of the company’s stock after purchasing an additional 2,882 shares during the period. Cibc World Markets Corp owned 0.05% of Live Nation Entertainment worth $16,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV grew its stake in shares of Live Nation Entertainment by 250.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 700 shares of the company’s stock worth $91,000 after buying an additional 500 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Live Nation Entertainment by 39.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,802 shares of the company’s stock valued at $751,000 after buying an additional 1,648 shares during the last quarter. Natixis Advisors LLC lifted its holdings in Live Nation Entertainment by 0.8% in the fourth quarter. Natixis Advisors LLC now owns 66,997 shares of the company’s stock valued at $8,676,000 after acquiring an additional 516 shares during the period. Hilton Capital Management LLC lifted its stake in shares of Live Nation Entertainment by 4.9% in the 4th quarter. Hilton Capital Management LLC now owns 23,966 shares of the company’s stock worth $3,104,000 after purchasing an additional 1,110 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Live Nation Entertainment by 134.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 21,503 shares of the company’s stock worth $2,785,000 after acquiring an additional 12,327 shares during the last quarter. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Guggenheim lifted their price objective on Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, February 18th. The Goldman Sachs Group raised their target price on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Finally, Citigroup increased their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insider Transactions at Live Nation Entertainment

In other news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now directly 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 filing with the SEC, which is accessible through the SEC website. Also, CAO Brian Capo sold 5,066 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,702 shares of company stock valued at $10,497,143 in the last quarter. 2.72% of the stock is currently owned by corporate insiders.

Live Nation Entertainment Stock Up 2.2 %

Shares of Live Nation Entertainment stock opened at $121.89 on Tuesday. The stock has a market cap of $28.45 billion, a price-to-earnings ratio of 44.81, a PEG ratio of 1.81 and a beta of 1.38. The firm’s 50-day moving average is $139.38 and its two-hundred day moving average is $127.00. 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, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75.

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, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.