Commonwealth Equity Services LLC Purchases 12,327 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Commonwealth Equity Services LLC boosted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 134.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,503 shares of the company's stock after acquiring an additional 12,327 shares during the quarter. Commonwealth Equity Services LLC's holdings in Live Nation Entertainment were worth $2,785,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi lifted its holdings in shares of Live Nation Entertainment by 3.7% in the fourth quarter. Amundi now owns 1,089,290 shares of the company's stock valued at $141,945,000 after purchasing an additional 39,302 shares in the last quarter. Wealthfront Advisers LLC boosted its position in Live Nation Entertainment by 595.3% during the 4th quarter. Wealthfront Advisers LLC now owns 39,688 shares of the company's stock worth $5,140,000 after acquiring an additional 33,980 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in shares of Live Nation Entertainment during the 4th quarter worth approximately $226,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Live Nation Entertainment by 12.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 971,039 shares of the company's stock valued at $106,319,000 after purchasing an additional 107,844 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth $754,000. 74.52% of the stock is owned by institutional investors and hedge funds.

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Live Nation Entertainment Stock Performance

Shares of LYV traded down $3.03 during midday trading on Friday, reaching $125.05. 1,731,244 shares of the stock were exchanged, compared to its average volume of 2,200,612. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The stock's 50 day simple moving average is $138.14 and its 200 day simple moving average is $128.62. Live Nation Entertainment, Inc. has a twelve month low of $86.81 and a twelve month high of $157.75. The company has a market cap of $29.19 billion, a P/E ratio of 45.97, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $1.49. The firm had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.67 billion. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. On average, sell-side analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $146.00 price target on shares of Live Nation Entertainment in a research note on Tuesday, February 18th. Guggenheim lifted their target price 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. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. Morgan Stanley boosted their price target 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. Finally, Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, Live Nation Entertainment has an average rating of "Moderate Buy" and a consensus target price of $157.27.

Insiders Place Their Bets

In other Live Nation Entertainment news, CAO Brian Capo sold 5,066 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now owns 10,549 shares of the company's stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total value 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. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,702 shares of company stock worth $10,497,143 over the last ninety days. Corporate 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.