Prosperity Wealth Management Inc. Buys Shares of 3,760 Live Nation Entertainment, Inc. (NYSE:LYV)

Prosperity Wealth Management Inc. bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,760 shares of the company’s stock, valued at approximately $352,000.

Other hedge funds also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its position in 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 buying an additional 200 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Live Nation Entertainment during the 3rd quarter worth $31,000. Raleigh Capital Management Inc. acquired a new position in Live Nation Entertainment in the 3rd quarter worth about $33,000. Parkside Financial Bank & Trust raised its position in Live Nation Entertainment by 153.0% in the first quarter. Parkside Financial Bank & Trust now owns 415 shares of the company’s stock valued at $48,000 after purchasing an additional 251 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its stake in shares of Live Nation Entertainment by 9,800.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 495 shares of the company’s stock valued at $41,000 after purchasing an additional 490 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $100.50, for a total value of $100,600.50. Following the completion of the sale, the director now directly owns 59,374 shares of the company’s stock, valued at $5,967,087. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.85% of the stock is currently owned by insiders.

Live Nation Entertainment Stock Down 7.6 %

NYSE:LYV traded down $7.56 on Wednesday, hitting $92.21. The stock had a trading volume of 10,063,974 shares, compared to its average volume of 1,575,668. The company has a market cap of $21.28 billion, a PE ratio of 69.37 and a beta of 1.30. Live Nation Entertainment, Inc. has a 52 week low of $64.96 and a 52 week high of $107.24. The business’s fifty day moving average is $98.89 and its 200 day moving average is $91.36. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30.

Live Nation Entertainment (NYSE:LYV) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.09). Live Nation Entertainment had a net margin of 2.48% and a return on equity of 118.42%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $4.72 billion. On average, equities research analysts expect that Live Nation Entertainment, Inc. will post 1.63 EPS for the current fiscal year.

Analyst Ratings Changes

LYV has been the subject of a number of research reports. TD Cowen reiterated a “buy” rating and issued a $108.00 price objective on shares of Live Nation Entertainment in a report on Tuesday. Rosenblatt Securities dropped their price target on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research note on Thursday, April 11th. Morgan Stanley boosted 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. Roth Mkm raised Live Nation Entertainment from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $114.00 in a report on Friday, January 12th. Finally, JPMorgan Chase & Co. upped their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $115.70.

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.