Virtu Financial LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Virtu Financial LLC bought a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,715 shares of the company’s stock, valued at approximately $1,776,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group bought a new stake in shares of Live Nation Entertainment in the third quarter worth $31,000. World Investment Advisors LLC acquired a new stake in shares of Live Nation Entertainment in the third quarter valued at about $38,000. Morse Asset Management Inc bought a new position in shares of Live Nation Entertainment during the third quarter worth about $42,000. Golden State Wealth Management LLC acquired a new position in shares of Live Nation Entertainment in the fourth quarter worth approximately $42,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Live Nation Entertainment during the 4th quarter valued at approximately $44,000. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Stock Performance

NYSE LYV opened at $122.93 on Friday. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day moving average price of $138.74 and a 200-day moving average price of $127.49. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. The firm has a market cap of $28.69 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.81 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating 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 firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.67 billion. As a group, equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $160.00 price target on shares of Live Nation Entertainment in a research report on Thursday, February 20th. The Goldman Sachs Group boosted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Macquarie raised their price objective on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Morgan Stanley increased their target price on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Guggenheim upped their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Live Nation Entertainment has an average rating of “Moderate Buy” and an average price target of $157.27.

Insiders Place Their Bets

In related news, Director Jeffrey T. Hinson sold 500 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total transaction of $61,475.00. Following the sale, the director now directly owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. The trade was a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,702 shares of company stock valued at $10,497,143. Company insiders own 2.72% of the company’s stock.

Live Nation Entertainment Company 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.