MetLife Investment Management LLC Grows Position in Live Nation Entertainment, Inc. (NYSE:LYV)

MetLife Investment Management LLC increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,931 shares of the company’s stock after buying an additional 2,342 shares during the quarter. MetLife Investment Management LLC’s holdings in Live Nation Entertainment were worth $5,248,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LYV. Townsquare Capital LLC increased its position in shares of Live Nation Entertainment by 24.9% in the third quarter. Townsquare Capital LLC now owns 4,361 shares of the company’s stock valued at $477,000 after acquiring an additional 870 shares during the period. Brooklyn Investment Group purchased a new position in Live Nation Entertainment during the 3rd quarter valued at about $31,000. Quantbot Technologies LP raised its position in Live Nation Entertainment by 86.1% during the 3rd quarter. Quantbot Technologies LP now owns 13,577 shares of the company’s stock valued at $1,487,000 after purchasing an additional 6,282 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Live Nation Entertainment by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 96,824 shares of the company’s stock worth $10,601,000 after buying an additional 7,143 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Live Nation Entertainment by 15.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 19,419 shares of the company’s stock worth $2,126,000 after buying an additional 2,597 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LYV shares. Oppenheimer raised their price target on Live Nation Entertainment from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Bank of America increased their price target on shares of Live Nation Entertainment from $125.00 to $149.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Evercore ISI upped their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Roth Mkm raised their target price on Live Nation Entertainment from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Guggenheim upped their price target on Live Nation Entertainment from $130.00 to $146.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.53.

Live Nation Entertainment Stock Down 1.1 %

NYSE:LYV opened at $138.25 on Friday. 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 firm has a market cap of $32.12 billion, a P/E ratio of 147.07, a P/E/G ratio of 3.79 and a beta of 1.33. Live Nation Entertainment, Inc. has a fifty-two week low of $81.38 and a fifty-two week high of $141.18. The firm has a 50-day simple moving average of $120.38 and a two-hundred day simple moving average of $103.68.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.66 earnings per share 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 company had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts predict that Live Nation Entertainment, Inc. will post 1.04 earnings per share for the current fiscal year.

Insider Activity

In other Live Nation Entertainment 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 value of $536,815.20. Following the completion of the transaction, the director now owns 53,949 shares of the company’s stock, valued at approximately $5,134,865.82. The trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Rowles sold 35,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 167,447 shares in the company, 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. Insiders have sold a total of 168,799 shares of company stock valued at $16,449,718 over the last ninety days. 2.72% of the stock is currently owned by corporate insiders.

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.