Cumberland Partners Ltd Boosts Stake in Live Nation Entertainment, Inc. (NYSE:LYV)

Cumberland Partners Ltd raised its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 66.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,500 shares of the company’s stock after buying an additional 7,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Live Nation Entertainment were worth $1,638,000 at the end of the most recent quarter.

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

Insider Activity

In other news, Director Jeffrey T. Hinson sold 1,001 shares of Live Nation Entertainment stock in a transaction on Friday, March 8th. The stock was sold at an average price of $100.50, for a total transaction of $100,600.50. Following the transaction, the director now directly owns 59,374 shares in the company, valued at approximately $5,967,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.85% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on LYV. Oppenheimer boosted their price objective on Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Roth Mkm restated a “buy” rating and set a $120.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday. TD Cowen restated a “buy” rating and set a $108.00 price objective on shares of Live Nation Entertainment in a research note on Tuesday, April 16th. Rosenblatt Securities cut their price target on 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. Finally, JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Live Nation Entertainment presently has an average rating of “Moderate Buy” and an average price target of $116.30.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV traded up $1.63 during trading on Tuesday, hitting $90.08. 2,133,468 shares of the company traded hands, compared to its average volume of 2,295,083. Live Nation Entertainment, Inc. has a one year low of $64.96 and a one year high of $107.24. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 67.73 and a beta of 1.30. The business’s fifty day moving average is $99.04 and its 200-day moving average is $91.54. 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 issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.72 billion. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 1.63 earnings per share for the current fiscal year.

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.