Hartford Investment Management Co. Acquires 730 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Hartford Investment Management Co. increased its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,880 shares of the company’s stock after purchasing an additional 730 shares during the period. Hartford Investment Management Co.’s holdings in Live Nation Entertainment were worth $1,082,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Select Equity Group L.P. boosted its holdings in shares of Live Nation Entertainment by 12.3% in the second quarter. Select Equity Group L.P. now owns 12,940,613 shares of the company’s stock valued at $1,213,053,000 after buying an additional 1,415,173 shares during the period. D1 Capital Partners L.P. increased its holdings in Live Nation Entertainment by 44.6% during the 2nd quarter. D1 Capital Partners L.P. now owns 3,543,532 shares of the company’s stock worth $332,171,000 after purchasing an additional 1,093,000 shares in the last quarter. Vulcan Value Partners LLC raised its stake in shares of Live Nation Entertainment by 46.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,694,463 shares of the company’s stock valued at $252,663,000 after purchasing an additional 855,197 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Live Nation Entertainment by 85.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,038,285 shares of the company’s stock worth $97,329,000 after buying an additional 476,981 shares during the period. Finally, Cantillon Capital Management LLC grew its holdings in shares of Live Nation Entertainment by 16.7% during the first quarter. Cantillon Capital Management LLC now owns 3,205,694 shares of the company’s stock worth $339,066,000 after buying an additional 458,893 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on LYV. Oppenheimer boosted their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Benchmark reissued a “buy” rating and set a $132.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, September 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $123.00 target price on shares of Live Nation Entertainment in a research report on Thursday, August 15th. Finally, Roth Mkm increased their price target on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $122.23.

Live Nation Entertainment Trading Down 0.1 %

Shares of Live Nation Entertainment stock opened at $116.32 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $76.48 and a 1 year high of $117.48. The company has a market capitalization of $26.72 billion, a price-to-earnings ratio of 110.78, a P/E/G ratio of 2.78 and a beta of 1.35. The business has a fifty day simple moving average of $104.91 and a two-hundred day simple moving average of $97.65. The company has a debt-to-equity ratio of 9.22, a current ratio of 0.92 and a quick ratio of 0.92.

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

Insider Activity

In related news, 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 value 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 $16,349,525.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Michael Rowles sold 35,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total value of $3,417,400.00. Following the completion of the sale, the executive vice president now owns 167,447 shares of the company’s stock, valued at approximately $16,349,525.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Brian Capo sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $96.61, for a total transaction of $483,050.00. Following the transaction, the chief accounting officer now directly owns 12,327 shares in the company, valued at approximately $1,190,911.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,000 shares of company stock valued at $17,238,181. 2.85% of the stock is owned by insiders.

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.