First Trust Advisors LP Grows Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

First Trust Advisors LP boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 155.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 457,122 shares of the company's stock after acquiring an additional 278,061 shares during the quarter. First Trust Advisors LP owned 0.20% of Live Nation Entertainment worth $59,197,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. World Investment Advisors LLC bought a new position in shares of Live Nation Entertainment in the 3rd quarter worth approximately $38,000. Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment in the fourth quarter worth approximately $40,000. Morse Asset Management Inc purchased a new position in shares of Live Nation Entertainment during the 3rd quarter worth $42,000. Golden State Wealth Management LLC bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $42,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Live Nation Entertainment in the 4th quarter worth $44,000. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Bank of America increased their target price on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Rosenblatt Securities restated a "buy" rating and set a $174.00 price objective on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Finally, Macquarie upped their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.33.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $128.80 on Wednesday. The stock has a market capitalization of $30.06 billion, a PE ratio of 47.35, a P/E/G ratio of 1.81 and a beta of 1.31. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business has a 50 day simple moving average of $131.52 and a two-hundred day simple moving average of $131.32. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.67 billion. On average, research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Insider Activity

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares in the company, valued at approximately $1,300,058.76. This represents a 32.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Rowles sold 63,136 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at approximately $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is currently owned by corporate insiders.

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.

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