Live Nation Entertainment, Inc. (NYSE:LYV) Shares Acquired by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. increased its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 75.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,934 shares of the company’s stock after acquiring an additional 14,547 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Live Nation Entertainment were worth $3,715,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Mystic Asset Management Inc. lifted its stake in shares of Live Nation Entertainment by 2.1% in the second quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after acquiring an additional 110 shares in the last quarter. Czech National Bank increased its holdings in Live Nation Entertainment by 0.5% in the first quarter. Czech National Bank now owns 24,965 shares of the company’s stock valued at $2,641,000 after buying an additional 115 shares during the last quarter. Meiji Yasuda Life Insurance Co increased its holdings in Live Nation Entertainment by 3.2% in the second quarter. Meiji Yasuda Life Insurance Co now owns 3,840 shares of the company’s stock valued at $360,000 after buying an additional 120 shares during the last quarter. Baker Tilly Wealth Management LLC increased its holdings in Live Nation Entertainment by 5.4% in the second quarter. Baker Tilly Wealth Management LLC now owns 2,527 shares of the company’s stock valued at $237,000 after buying an additional 130 shares during the last quarter. Finally, Hohimer Wealth Management LLC increased its holdings in Live Nation Entertainment by 1.2% in the second quarter. Hohimer Wealth Management LLC now owns 11,427 shares of the company’s stock valued at $1,071,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Activity

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now directly owns 59,789 shares of the company’s stock, valued at $5,626,742.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Live Nation Entertainment news, CFO Joe Berchtold sold 29,310 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the sale, the chief financial officer now directly owns 566,722 shares of the company’s stock, valued at $55,255,395. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Hinson sold 1,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $94.11, for a total transaction of $141,165.00. Following the sale, the director now directly owns 59,789 shares in the company, valued at approximately $5,626,742.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,000 shares of company stock worth $17,238,181. Insiders own 2.85% of the company’s stock.

Live Nation Entertainment Price Performance

LYV traded down $0.49 during trading on Tuesday, reaching $115.35. The stock had a trading volume of 1,950,766 shares, compared to its average volume of 2,125,302. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 110.06, a price-to-earnings-growth ratio of 2.65 and a beta of 1.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 9.22. Live Nation Entertainment, Inc. has a 1-year low of $76.48 and a 1-year high of $116.57. The stock has a 50 day moving average of $100.76 and a two-hundred day moving average of $96.84.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Live Nation Entertainment had a net margin of 2.20% and a return on equity of 84.78%. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the company posted $1.02 EPS. Live Nation Entertainment’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Live Nation Entertainment, Inc. will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYV. Rosenblatt Securities reissued a “buy” rating and issued a $123.00 price objective on shares of Live Nation Entertainment in a report on Thursday, August 15th. Macquarie upped their target price on Live Nation Entertainment from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Oppenheimer upped their target price on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Bank of America started coverage on Live Nation Entertainment in a report on Wednesday, September 4th. They set a “buy” rating and a $125.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $132.00 target price on shares of Live Nation Entertainment in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.85.

Live Nation Entertainment Company 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.