QRG Capital Management Inc. Boosts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

QRG Capital Management Inc. grew its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,243 shares of the company’s stock after buying an additional 726 shares during the period. QRG Capital Management Inc.’s holdings in Live Nation Entertainment were worth $2,103,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. SOA Wealth Advisors LLC. raised its position in shares of Live Nation Entertainment by 19.0% during the 4th quarter. SOA Wealth Advisors LLC. now owns 500 shares of the company’s stock valued at $65,000 after buying an additional 80 shares in the last quarter. Western Pacific Wealth Management LP raised its position in Live Nation Entertainment by 10.4% in the 4th quarter. Western Pacific Wealth Management LP now owns 867 shares of the company’s stock worth $112,000 after purchasing an additional 82 shares during the period. Private Advisor Group LLC raised its position in Live Nation Entertainment by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 3,218 shares of the company’s stock worth $352,000 after purchasing an additional 89 shares during the period. UMB Bank n.a. raised its position in Live Nation Entertainment by 21.2% in the 4th quarter. UMB Bank n.a. now owns 532 shares of the company’s stock worth $69,000 after purchasing an additional 93 shares during the period. Finally, Gilbert & Cook Inc. raised its position in Live Nation Entertainment by 1.7% in the 4th quarter. Gilbert & Cook Inc. now owns 5,463 shares of the company’s stock worth $707,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Insider Activity

In related news, EVP Michael Rowles sold 63,136 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the sale, the executive vice president now owns 195,346 shares of the company’s stock, valued at $30,356,768.40. The trade was a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.72% of the company’s stock.

Live Nation Entertainment Trading Up 1.7 %

Shares of LYV opened at $143.35 on Monday. The firm’s 50-day moving average price is $140.25 and its 200-day moving average price is $124.61. The firm has a market capitalization of $33.46 billion, a price-to-earnings ratio of 52.70, a PEG ratio of 1.81 and a beta of 1.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.10. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

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

Analyst Ratings Changes

A number of brokerages recently commented on LYV. Citigroup lifted their target price 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 target price on shares of Live Nation Entertainment in a research report on Tuesday, February 18th. Macquarie boosted their price objective on shares of Live Nation Entertainment from $130.00 to $146.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Morgan Stanley boosted their price objective on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Live Nation Entertainment has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.