Harbor Advisors LLC Buys Shares of 2,000 Live Nation Entertainment, Inc. (NYSE:LYV)

Harbor Advisors LLC bought a new stake in Live Nation Entertainment, Inc. (NYSE:LYV) in the third quarter, Holdings Channel reports. The institutional investor bought 2,000 shares of the company’s stock, valued at approximately $219,000.

Other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC raised its position in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the period. Private Advisor Group LLC boosted its holdings in Live Nation Entertainment by 2.8% during the third quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after buying an additional 89 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Live Nation Entertainment by 1.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 6,648 shares of the company’s stock valued at $728,000 after acquiring an additional 95 shares during the last quarter. Empirical Finance LLC lifted its stake in shares of Live Nation Entertainment by 2.3% in the third quarter. Empirical Finance LLC now owns 4,639 shares of the company’s stock worth $508,000 after buying an additional 105 shares during the last quarter. Finally, Mystic Asset Management Inc. increased its position in Live Nation Entertainment by 2.1% during the 2nd quarter. Mystic Asset Management Inc. now owns 5,240 shares of the company’s stock worth $491,000 after buying an additional 110 shares during the period. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 5,640 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $95.18, for a total transaction of $536,815.20. Following the completion of the transaction, the director now directly owns 53,949 shares in the company, valued at $5,134,865.82. The trade was a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Rapino sold 98,849 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value 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 approximately $360,956,212.50. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 168,799 shares of company stock worth $16,449,718. 2.72% of the stock is owned by insiders.

Live Nation Entertainment Trading Down 0.4 %

Shares of LYV stock opened at $137.72 on Tuesday. The business’s fifty day moving average is $120.38 and its 200 day moving average is $103.79. Live Nation Entertainment, Inc. has a 52-week low of $81.38 and a 52-week high of $141.18. The company has a debt-to-equity ratio of 6.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $32.00 billion, a PE ratio of 146.51, a price-to-earnings-growth ratio of 3.75 and a beta of 1.37.

Live Nation Entertainment (NYSE:LYV) last posted 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 return on equity of 77.62% and a net margin of 2.11%. The company had revenue of $7.65 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter last year, the company earned $1.78 earnings per share. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Live Nation Entertainment, Inc. will post 1.04 EPS for the current fiscal year.

Analysts Set New Price Targets

LYV has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $123.00 target price on shares of Live Nation Entertainment in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price target on Live Nation Entertainment from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America upped their target price 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. StockNews.com raised Live Nation Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Citigroup upped their price target on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Live Nation Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $141.53.

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.