Live Nation Entertainment, Inc. (NYSE:LYV) Stake Raised by Empowered Funds LLC

Empowered Funds LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 392.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,336 shares of the company's stock after buying an additional 13,815 shares during the period. Empowered Funds LLC's holdings in Live Nation Entertainment were worth $1,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LYV. Cromwell Holdings LLC increased its stake in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company's stock valued at $47,000 after acquiring an additional 88 shares during the last quarter. Private Advisor Group LLC grew its holdings in Live Nation Entertainment by 2.8% in the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company's stock valued at $352,000 after purchasing an additional 89 shares during the period. Vontobel Holding Ltd. raised its stake in Live Nation Entertainment by 1.4% during the third quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company's stock worth $728,000 after purchasing an additional 95 shares during the period. Empirical Finance LLC boosted its holdings in shares of Live Nation Entertainment by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 4,639 shares of the company's stock valued at $508,000 after purchasing an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. grew its stake in shares of Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company's stock valued at $491,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insiders Place Their Bets

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $2,857,725.00. Following the transaction, the chief financial officer now owns 566,722 shares of the company's stock, valued at approximately $55,255,395. This represents a 4.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total value of $3,417,400.00. Following the sale, the executive vice president now directly owns 167,447 shares of the company's stock, valued at approximately $16,349,525.08. This represents a 17.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock worth $16,449,718 over the last ninety days. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Trading Up 1.5 %

Live Nation Entertainment stock opened at $136.51 on Thursday. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $136.54. The firm has a market capitalization of $31.72 billion, a price-to-earnings ratio of 145.22, a PEG ratio of 3.44 and a beta of 1.33. The firm has a 50-day moving average price of $115.09 and a two-hundred day moving average price of $101.62. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the firm posted $1.78 EPS. Live Nation Entertainment's revenue was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Live Nation Entertainment, Inc. will post 1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LYV has been the topic of several research reports. Guggenheim increased their target price on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Benchmark lifted their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Bank of America increased their target price on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. StockNews.com raised shares of Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $123.00 price target on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

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.