Optimal Asset Management Inc. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 239.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,638 shares of the company’s stock after purchasing an additional 34,323 shares during the period. Optimal Asset Management Inc.’s holdings in Live Nation Entertainment were worth $2,211,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Guardian Life Insurance Co. of America purchased a new stake in Live Nation Entertainment in the 4th quarter worth approximately $30,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Live Nation Entertainment in the first quarter valued at about $31,000. Fifth Third Bancorp grew its position in shares of Live Nation Entertainment by 2,960.9% in the first quarter. Fifth Third Bancorp now owns 704 shares of the company’s stock valued at $32,000 after purchasing an additional 681 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Live Nation Entertainment by 56.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 831 shares of the company’s stock valued at $59,000 after purchasing an additional 300 shares during the last quarter. Finally, Allred Capital Management LLC grew its position in shares of Live Nation Entertainment by 90.0% in the first quarter. Allred Capital Management LLC now owns 969 shares of the company’s stock valued at $44,000 after purchasing an additional 459 shares during the last quarter. 75.39% of the stock is owned by institutional investors.

Shares of LYV stock traded down $0.93 on Friday, hitting $43.24. The stock had a trading volume of 628,422 shares, compared to its average volume of 3,764,202. The firm has a market cap of $9.51 billion, a P/E ratio of -62.86 and a beta of 1.12. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.09. Live Nation Entertainment, Inc. has a twelve month low of $21.70 and a twelve month high of $76.60. The company has a fifty day moving average price of $47.28 and a two-hundred day moving average price of $55.57.

Live Nation Entertainment (NYSE:LYV) last announced its earnings results on Thursday, May 7th. The company reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.36). The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.42 billion. Live Nation Entertainment had a negative return on equity of 7.21% and a negative net margin of 0.91%. Live Nation Entertainment’s revenue for the quarter was down 21.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) earnings per share. On average, analysts expect that Live Nation Entertainment, Inc. will post -4.12 earnings per share for the current year.

In other Live Nation Entertainment news, CFO Elizabeth Kathleen Willard sold 68,040 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $53.53, for a total transaction of $3,642,181.20. Following the sale, the chief financial officer now directly owns 326,399 shares of the company’s stock, valued at approximately $17,472,138.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey T. Hinson sold 3,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $58.02, for a total transaction of $174,060.00. Following the sale, the director now directly owns 68,336 shares in the company, valued at $3,964,854.72. The disclosure for this sale can be found here. 4.82% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on LYV shares. Citigroup raised Live Nation Entertainment from a “sell” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $35.00 in a research report on Monday, March 23rd. Berenberg Bank reissued a “hold” rating and set a $47.00 target price on shares of Live Nation Entertainment in a research report on Monday, April 13th. William Blair restated a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, April 14th. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Morgan Stanley raised their price target on shares of Live Nation Entertainment from $40.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.00.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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