Stevens Capital Management LP Buys New Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Stevens Capital Management LP acquired a new stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,542 shares of the company's stock, valued at approximately $1,495,000.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Live Nation Entertainment in the 3rd quarter worth approximately $31,000. Golden State Wealth Management LLC purchased a new position in shares of Live Nation Entertainment in the fourth quarter worth $42,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment during the fourth quarter valued at $44,000. Independence Bank of Kentucky bought a new stake in Live Nation Entertainment in the 4th quarter worth about $45,000. Finally, Morse Asset Management Inc purchased a new position in Live Nation Entertainment in the 3rd quarter worth about $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the transaction, the chief accounting officer now directly owns 10,549 shares of the company's stock, valued at $1,300,058.76. The trade was 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 worth $10,497,143 in the last three months. 2.72% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on LYV. The Goldman Sachs Group raised their price target 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. Bank of America lifted their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Macquarie raised their price target on Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Guggenheim upped 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. Finally, Morgan Stanley raised 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 analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $157.27.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $1.56 on Thursday, hitting $128.31. 1,978,311 shares of the stock traded hands, compared to its average volume of 2,142,746. The firm has a market cap of $29.95 billion, a price-to-earnings ratio of 47.17, a PEG ratio of 1.81 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $138.35 and a two-hundred day simple moving average of $128.18. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 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 business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.67 billion. As a group, equities research analysts predict 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.