Royal London Asset Management Ltd. Acquires 15,544 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Royal London Asset Management Ltd. lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 12.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,846 shares of the company's stock after buying an additional 15,544 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of Live Nation Entertainment worth $15,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LYV. Brooklyn Investment Group bought a new position in shares of Live Nation Entertainment during the third quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock valued at $34,000 after buying an additional 202 shares in the last quarter. UMB Bank n.a. grew its stake in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company's stock worth $41,000 after buying an additional 176 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Live Nation Entertainment during the third quarter worth approximately $41,000. Finally, Family Firm Inc. bought a new position in shares of Live Nation Entertainment in the second quarter valued at approximately $42,000. Institutional investors own 74.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LYV. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Roth Mkm lifted their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, October 16th. Guggenheim upped their price target on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective 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. Finally, Benchmark upped their target price on shares of Live Nation Entertainment from $132.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

Live Nation Entertainment Trading Up 1.6 %

Shares of LYV stock traded up $2.09 during trading hours on Friday, reaching $136.76. The company had a trading volume of 2,142,263 shares, compared to its average volume of 3,003,626. 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, Inc. has a 1-year low of $82.25 and a 1-year high of $141.18. The company has a 50 day moving average of $123.33 and a 200 day moving average of $105.11. The firm has a market cap of $31.78 billion, a price-to-earnings ratio of 145.49, a P/E/G ratio of 3.45 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.08. The company had revenue of $7.65 billion during the quarter, compared to analysts' expectations of $7.75 billion. Live Nation Entertainment had a return on equity of 77.62% and a net margin of 2.11%. Live Nation Entertainment's revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Insider Activity

In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares in the company, valued at approximately $55,255,395. This represents a 4.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey T. Hinson sold 5,640 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $95.18, for a total value of $536,815.20. Following the completion of the sale, the director now owns 53,949 shares in the company, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,799 shares of company stock valued at $16,449,718 in the last quarter. Company insiders own 2.72% of the company's stock.

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.