Y Intercept Hong Kong Ltd Takes $3.14 Million Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Y Intercept Hong Kong Ltd purchased a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 28,694 shares of the company's stock, valued at approximately $3,142,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Live Nation Entertainment by 119.5% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company's stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. UMB Bank n.a. raised its position in shares of Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company's stock valued at $41,000 after acquiring an additional 176 shares in the last quarter. Reston Wealth Management LLC bought a new position in Live Nation Entertainment during the third quarter worth $41,000. Finally, Family Firm Inc. acquired a new position in Live Nation Entertainment in the second quarter worth $42,000. Institutional investors own 74.52% of the company's stock.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP Michael Rowles sold 35,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $16,349,525.08. This trade represents a 17.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 3,702,115 shares of the company's stock, valued at $360,956,212.50. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,159 shares of company stock worth $15,912,903 in the last quarter. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $0.36 during mid-day trading on Tuesday, hitting $134.36. 2,244,613 shares of the stock traded hands, compared to its average volume of 2,206,075. The company's 50-day simple moving average is $123.82 and its 200-day simple moving average is $105.39. Live Nation Entertainment, Inc. has a twelve month low of $85.08 and a twelve month high of $141.18. The firm has a market cap of $31.22 billion, a price-to-earnings ratio of 142.59, a price-to-earnings-growth ratio of 3.71 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.08. The business had revenue of $7.65 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer raised their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Benchmark lifted their target price on Live Nation Entertainment from $132.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the stock a "buy" rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on 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, Bank of America upped their price objective on Live Nation Entertainment from $125.00 to $149.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

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.