Jacobs Levy Equity Management Inc. Increases Stock Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Jacobs Levy Equity Management Inc. raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,009,378 shares of the company’s stock after acquiring an additional 23,146 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Live Nation Entertainment were worth $110,517,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment during the 3rd quarter valued at $31,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Live Nation Entertainment by 119.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. UMB Bank n.a. grew its holdings in Live Nation Entertainment by 67.4% during the 2nd quarter. UMB Bank n.a. now owns 437 shares of the company’s stock worth $41,000 after acquiring an additional 176 shares during the period. Reston Wealth Management LLC bought a new stake in Live Nation Entertainment in the 3rd quarter valued at $41,000. Finally, Family Firm Inc. bought a new stake in Live Nation Entertainment during the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Wall Street Analysts Forecast Growth

LYV has been the topic of a number of research reports. Macquarie boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Guggenheim boosted their target price on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer increased their price target on shares of Live Nation Entertainment from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group raised their price objective on Live Nation Entertainment from $132.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Evercore ISI raised their target price on Live Nation Entertainment from $110.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.53.

Insiders Place Their Bets

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 5,640 shares of Live Nation Entertainment stock in a transaction on 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 of the company’s stock, valued at approximately $5,134,865.82. This trade represents a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Rapino sold 98,849 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total value of $9,637,777.50. Following the transaction, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at $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 three months, insiders have sold 168,799 shares of company stock valued at $16,449,718. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Down 0.4 %

NYSE:LYV opened at $137.72 on Tuesday. The business has a fifty day moving average price of $120.38 and a 200-day moving average price of $103.79. Live Nation Entertainment, Inc. has a one year low of $81.38 and a one year high of $141.18. The firm has a market capitalization of $32.00 billion, a price-to-earnings ratio of 146.51, a price-to-earnings-growth ratio of 3.75 and a beta of 1.37. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 EPS for the quarter, topping 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 business had revenue of $7.65 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.04 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.