Pittenger & Anderson Inc. Has $10.95 Million Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Pittenger & Anderson Inc. boosted its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,965 shares of the company’s stock after acquiring an additional 6,661 shares during the quarter. Pittenger & Anderson Inc. owned 0.05% of Live Nation Entertainment worth $10,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYV. Creative Financial Designs Inc. ADV raised its position in shares of Live Nation Entertainment by 148.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Live Nation Entertainment in the third quarter valued at about $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Live Nation Entertainment by 9,800.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after acquiring an additional 490 shares in the last quarter. Tobam acquired a new position in shares of Live Nation Entertainment in the fourth quarter valued at about $59,000. Finally, Headlands Technologies LLC acquired a new position in shares of Live Nation Entertainment in the third quarter valued at about $88,000. 74.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYV has been the topic of several research reports. Oppenheimer upped their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Rosenblatt Securities reduced their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating on the stock in a research note on Thursday, April 11th. Roth Mkm reiterated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Live Nation Entertainment from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, TD Cowen reiterated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $116.30.

Insider Buying and Selling

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $100.50, for a total value of $100,600.50. Following the transaction, the director now owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.85% of the stock is owned by corporate insiders.

Live Nation Entertainment Trading Up 0.8 %

NYSE:LYV traded up $0.68 during mid-day trading on Friday, hitting $89.17. 769,229 shares of the company’s stock were exchanged, compared to its average volume of 2,259,774. The company has a 50 day simple moving average of $98.94 and a 200-day simple moving average of $91.50. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 9.30. Live Nation Entertainment, Inc. has a fifty-two week low of $65.20 and a fifty-two week high of $107.24. The firm has a market capitalization of $20.58 billion, a P/E ratio of 66.53 and a beta of 1.30.

Live Nation Entertainment (NYSE:LYV) last posted its earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.09). Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. As a group, research analysts expect that Live Nation Entertainment, Inc. will post 1.62 earnings per share 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.