Equitable Trust Co. Buys 61,821 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Equitable Trust Co. increased its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 201.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,453 shares of the company's stock after acquiring an additional 61,821 shares during the quarter. Equitable Trust Co.'s holdings in Live Nation Entertainment were worth $8,667,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Pentwater Capital Management LP acquired a new position in shares of Live Nation Entertainment during the second quarter valued at about $3,281,000. Nilsine Partners LLC raised its stake in Live Nation Entertainment by 6.3% during the 2nd quarter. Nilsine Partners LLC now owns 20,189 shares of the company's stock worth $1,893,000 after buying an additional 1,201 shares during the period. Mizuho Markets Americas LLC boosted its holdings in Live Nation Entertainment by 19.8% in the second quarter. Mizuho Markets Americas LLC now owns 157,513 shares of the company's stock worth $14,765,000 after acquiring an additional 26,084 shares in the last quarter. Spire Wealth Management grew its stake in Live Nation Entertainment by 27.0% in the second quarter. Spire Wealth Management now owns 3,624 shares of the company's stock valued at $340,000 after acquiring an additional 770 shares during the period. Finally, Van ECK Associates Corp increased its holdings in shares of Live Nation Entertainment by 11.5% during the second quarter. Van ECK Associates Corp now owns 50,373 shares of the company's stock valued at $4,722,000 after acquiring an additional 5,212 shares in the last quarter. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $94.11, for a total value of $141,165.00. Following the completion of the sale, the director now directly owns 59,789 shares of the company's stock, valued at $5,626,742.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the completion of the transaction, the director now owns 59,789 shares in the company, valued at $5,626,742.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ping Fu sold 1,701 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $96.56, for a total transaction of $164,248.56. Following the completion of the sale, the director now directly owns 15,128 shares in the company, valued at approximately $1,460,759.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,201 shares of company stock worth $788,464. Insiders own 2.85% of the company's stock.

Live Nation Entertainment Stock Performance

Shares of Live Nation Entertainment stock traded up $0.94 during trading hours on Friday, hitting $97.67. 1,136,616 shares of the company's stock traded hands, compared to its average volume of 1,435,269. The company has a fifty day simple moving average of $94.31 and a 200-day simple moving average of $95.75. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 93.02, a PEG ratio of 2.20 and a beta of 1.34. Live Nation Entertainment, Inc. has a 12-month low of $76.48 and a 12-month high of $107.24.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). Live Nation Entertainment had a return on equity of 84.78% and a net margin of 2.20%. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm posted $1.02 EPS. The business's revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LYV shares. Morgan Stanley reiterated an "overweight" rating and issued a $120.00 target price on shares of Live Nation Entertainment in a report on Wednesday, June 12th. Macquarie reiterated an "outperform" rating and set a $125.00 price objective on shares of Live Nation Entertainment in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Roth Mkm reiterated a "buy" rating and set a $120.00 price target on shares of Live Nation Entertainment in a research note on Friday, May 24th. Finally, Oppenheimer reissued an "outperform" rating and issued a $110.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $118.17.

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.