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

Cerity Partners LLC raised its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 165.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,154 shares of the company’s stock after buying an additional 28,162 shares during the period. Cerity Partners LLC’s holdings in Live Nation Entertainment were worth $4,944,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LYV. Migdal Insurance & Financial Holdings Ltd. increased its stake 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 purchasing an additional 202 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at approximately $41,000. Cromwell Holdings LLC raised its stake in shares of Live Nation Entertainment by 25.7% during the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after buying an additional 88 shares during the period. UMB Bank n.a. lifted 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 buying an additional 176 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in Live Nation Entertainment in the 2nd quarter worth $42,000. Institutional investors and hedge funds own 74.52% of the company’s stock.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $139.73 on Friday. Live Nation Entertainment, Inc. has a 52 week low of $81.38 and a 52 week high of $141.18. The stock’s fifty day moving average is $118.98 and its two-hundred day moving average is $103.13. The company has a market capitalization of $32.47 billion, a P/E ratio of 148.65, a P/E/G ratio of 3.81 and a beta of 1.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The firm had revenue of $7.65 billion for the quarter, compared to analyst estimates of $7.75 billion. During the same period in the previous year, the firm earned $1.78 EPS. Live Nation Entertainment’s revenue was down 6.2% on a year-over-year basis. Equities analysts expect that Live Nation Entertainment, Inc. will post 1.04 EPS for the current year.

Insider Buying and Selling

In other Live Nation Entertainment news, CEO Michael Rapino sold 98,849 shares of Live Nation Entertainment stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the completion of the transaction, the chief executive officer now directly owns 3,702,115 shares of the company’s stock, valued at $360,956,212.50. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $97.64, for a total transaction of $3,417,400.00. Following the completion of the transaction, 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 valued at $16,449,718. Company insiders own 2.72% of the company’s stock.

Wall Street Analyst Weigh In

LYV has been the subject of a number of research reports. Guggenheim boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Benchmark boosted their price objective on Live Nation Entertainment from $132.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI raised their price objective on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.53.

Live Nation Entertainment 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.