Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 165.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,154 shares of the company's stock after purchasing an additional 28,162 shares during the quarter. Cerity Partners LLC's holdings in Live Nation Entertainment were worth $4,944,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Select Equity Group L.P. increased its position in shares of Live Nation Entertainment by 12.3% during the 2nd quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company's stock valued at $1,213,053,000 after purchasing an additional 1,415,173 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in shares of Live Nation Entertainment by 44.6% in the second quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company's stock valued at $332,171,000 after purchasing an additional 1,093,000 shares during the period. Vulcan Value Partners LLC grew its position in shares of Live Nation Entertainment by 46.5% during the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company's stock worth $252,663,000 after buying an additional 855,197 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Live Nation Entertainment by 85.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company's stock worth $97,329,000 after acquiring an additional 476,981 shares in the last quarter. Finally, DigitalBridge Group Inc. purchased a new position in Live Nation Entertainment during the second quarter valued at approximately $20,453,000. Institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America raised their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Evercore ISI raised their price target on shares of Live Nation Entertainment from $110.00 to $150.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price 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. Benchmark lifted their price target on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Finally, Guggenheim increased their price objective on Live Nation Entertainment from $130.00 to $146.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $141.53.

Live Nation Entertainment Stock Performance

NYSE LYV traded down $1.44 during trading hours on Friday, reaching $138.29. The stock had a trading volume of 1,036,534 shares, compared to its average volume of 2,175,953. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $141.18. The stock has a fifty day moving average of $119.69 and a 200 day moving average of $103.38. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $32.13 billion, a P/E ratio of 148.16, a price-to-earnings-growth ratio of 3.79 and a beta of 1.33.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Sell-side analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

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 dated 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 sale, the chief executive officer now directly owns 3,702,115 shares in the company, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Rowles sold 35,000 shares of the business's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the sale, the executive vice president now directly owns 167,447 shares of the company's stock, valued at approximately $16,349,525.08. The trade was a 17.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 168,799 shares of company stock worth $16,449,718. 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.