Live Nation Entertainment, Inc. (NYSE:LYV) Shares Sold by Mystic Asset Management Inc.

Mystic Asset Management Inc. cut its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,145 shares of the company’s stock after selling 95 shares during the period. Mystic Asset Management Inc.’s holdings in Live Nation Entertainment were worth $666,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Live Nation Entertainment in the third quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $42,000. Retirement Wealth Solutions LLC purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $44,000. Independence Bank of Kentucky purchased a new stake in Live Nation Entertainment in the fourth quarter valued at $45,000. Finally, Morse Asset Management Inc purchased a new stake in Live Nation Entertainment in the third quarter valued at $42,000. 74.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LYV. Rosenblatt Securities reaffirmed a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price on shares of Live Nation Entertainment in a report on Thursday, February 20th. Citigroup upped their target price on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.27.

Insiders Place Their Bets

In other news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the sale, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $122.95, for a total transaction of $61,475.00. Following the completion of the sale, the director now owns 52,624 shares in the company, valued at $6,470,120.80. This represents a 0.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock worth $10,497,143. 2.72% of the stock is owned by company insiders.

Live Nation Entertainment Trading Up 2.2 %

NYSE LYV opened at $121.89 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The firm has a 50-day moving average price of $139.38 and a 200 day moving average price of $127.00. Live Nation Entertainment, Inc. has a 52-week low of $86.81 and a 52-week high of $157.75. The stock has a market capitalization of $28.45 billion, a P/E ratio of 44.81, a P/E/G ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, February 27th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The company had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.67 billion. Equities research analysts expect that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

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.