Berger Financial Group Inc Purchases 2,825 Shares of Live Nation Entertainment, Inc. $LYV

Berger Financial Group Inc increased its position in Live Nation Entertainment, Inc. (NYSE:LYV) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,695 shares of the company’s stock after purchasing an additional 2,825 shares during the quarter. Berger Financial Group Inc’s holdings in Live Nation Entertainment were worth $6,511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of LYV. Norges Bank acquired a new position in shares of Live Nation Entertainment in the 4th quarter valued at $285,924,000. Sachem Head Capital Management LP acquired a new stake in shares of Live Nation Entertainment during the 4th quarter valued at about $173,380,000. Jericho Capital Asset Management L.P. increased its stake in Live Nation Entertainment by 37.9% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,996,512 shares of the company’s stock valued at $569,503,000 after acquiring an additional 1,099,350 shares during the period. First Trust Advisors LP raised its position in Live Nation Entertainment by 653.7% in the fourth quarter. First Trust Advisors LP now owns 1,191,347 shares of the company’s stock worth $169,767,000 after purchasing an additional 1,033,289 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after purchasing an additional 1,001,905 shares in the last quarter. Institutional investors own 74.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LYV shares. Wolfe Research lifted their price objective on Live Nation Entertainment from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft raised their target price on Live Nation Entertainment from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Wall Street Zen upgraded Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Rothschild & Co Redburn boosted their target price on shares of Live Nation Entertainment from $193.00 to $195.00 in a research note on Wednesday, May 6th. Twenty investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.50.

Insider Activity at Live Nation Entertainment

In other Live Nation Entertainment news, EVP John Hopmans sold 93,078 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company’s stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Rowles sold 63,776 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $164.24, for a total value of $10,474,570.24. Following the completion of the transaction, the executive vice president owned 204,716 shares in the company, valued at $33,622,555.84. The trade was a 23.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is owned by corporate insiders.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $186.07 on Friday. The business has a fifty day moving average of $167.83 and a 200-day moving average of $157.11. The company has a debt-to-equity ratio of 13.93, a quick ratio of 0.88 and a current ratio of 0.88. Live Nation Entertainment, Inc. has a twelve month low of $125.34 and a twelve month high of $187.63. The firm has a market cap of $43.83 billion, a PE ratio of -105.13 and a beta of 1.11.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the company earned ($0.32) EPS. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts predict that Live Nation Entertainment, Inc. will post 1.09 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.