Raymond James Trust N.A. Invests $231,000 in Live Nation Entertainment, Inc. (NYSE:LYV)

Raymond James Trust N.A. purchased a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the first quarter, Holdings Channel.com reports. The firm purchased 2,724 shares of the company’s stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Signaturefd LLC boosted its holdings in shares of Live Nation Entertainment by 55.8% in the first quarter. Signaturefd LLC now owns 757 shares of the company’s stock worth $64,000 after buying an additional 271 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth approximately $51,000. Creative Planning boosted its holdings in shares of Live Nation Entertainment by 10.9% in the first quarter. Creative Planning now owns 13,273 shares of the company’s stock worth $1,124,000 after buying an additional 1,304 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Live Nation Entertainment by 11.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 591,005 shares of the company’s stock worth $50,029,000 after buying an additional 61,356 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Live Nation Entertainment in the first quarter worth approximately $89,000. 71.90% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on LYV shares. Cowen raised their price objective on shares of Live Nation Entertainment from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Zacks Investment Research downgraded shares of Live Nation Entertainment from a “hold” rating to a “sell” rating in a report on Wednesday, May 5th. Wolfe Research started coverage on shares of Live Nation Entertainment in a report on Thursday, May 13th. They set an “outperform” rating and a $97.00 price target on the stock. Jefferies Financial Group raised shares of Live Nation Entertainment from a “hold” rating to a “buy” rating and lifted their price target for the company from $88.00 to $96.00 in a report on Monday. Finally, Morgan Stanley lifted their price target on shares of Live Nation Entertainment from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, May 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Live Nation Entertainment presently has a consensus rating of “Hold” and an average target price of $75.86.

Shares of NYSE:LYV opened at $84.52 on Tuesday. The company has a debt-to-equity ratio of 19.63, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a fifty day moving average price of $82.94 and a 200 day moving average price of $76.48. Live Nation Entertainment, Inc. has a fifty-two week low of $42.21 and a fifty-two week high of $94.63. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of -12.18 and a beta of 1.38.

Live Nation Entertainment (NYSE:LYV) last issued its earnings results on Thursday, May 6th. The company reported ($1.44) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.66) by $0.22. Live Nation Entertainment had a negative net margin of 32.49% and a negative return on equity of 161.81%. The firm had revenue of $290.60 million during the quarter, compared to analyst estimates of $287.45 million. During the same quarter in the prior year, the business earned ($0.94) earnings per share. Live Nation Entertainment’s revenue for the quarter was down 78.7% on a year-over-year basis. As a group, research analysts predict that Live Nation Entertainment, Inc. will post -8.52 earnings per share for the current year.

In related news, President Joe Berchtold sold 85,000 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $91.80, for a total transaction of $7,803,000.00. Following the sale, the president now owns 915,769 shares of the company’s stock, valued at $84,067,594.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elizabeth Kathleen Willard sold 81,500 shares of the company’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $87.69, for a total transaction of $7,146,735.00. Following the sale, the chief financial officer now directly owns 368,177 shares in the company, valued at approximately $32,285,441.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 420,369 shares of company stock valued at $37,596,584. 5.48% of the stock is owned by company insiders.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company. 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; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists.

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Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

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