Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,477 shares of the company's stock after purchasing an additional 5,955 shares during the quarter. Chevy Chase Trust Holdings LLC's holdings in Live Nation Entertainment were worth $9,249,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LYV. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment during the third quarter valued at approximately $31,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock worth $34,000 after purchasing an additional 202 shares in the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment in the 3rd quarter worth $41,000. Cromwell Holdings LLC grew its holdings in Live Nation Entertainment by 25.7% during the third quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock valued at $47,000 after purchasing an additional 88 shares during the period. Finally, UMB Bank n.a. increased its position in Live Nation Entertainment by 67.4% in the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $41,000 after buying an additional 176 shares in the last quarter. Institutional investors own 74.52% of the company's stock.

Live Nation Entertainment Trading Up 1.6 %

Shares of NYSE:LYV traded up $2.10 during trading on Friday, reaching $136.77. The company's stock had a trading volume of 2,142,238 shares, compared to its average volume of 2,204,673. The firm's 50 day simple moving average is $122.77 and its two-hundred day simple moving average is $104.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 12 month low of $82.25 and a 12 month high of $141.18. The stock has a market capitalization of $31.78 billion, a PE ratio of 144.50, a price-to-earnings-growth ratio of 3.77 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.66 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 the consensus estimate of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm's revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. On average, research analysts predict that Live Nation Entertainment, Inc. will post 1.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LYV shares. Roth Mkm boosted their price objective on Live Nation Entertainment from $120.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Rosenblatt Securities restated a "buy" rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. TD Cowen raised their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Bank of America upped their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus target price of $142.13.

Insider Buying and Selling at Live Nation Entertainment

In other news, CEO Michael Rapino sold 98,849 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares in the company, valued at approximately $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of Live Nation Entertainment stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $95.18, for a total transaction of $536,815.20. Following the transaction, the director now directly owns 53,949 shares in the company, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,799 shares of company stock valued at $16,449,718 in the last three months. Company insiders own 2.72% of the company's stock.

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.