Cumberland Partners Ltd Raises Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Cumberland Partners Ltd lifted its holdings in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 66.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 17,500 shares of the company’s stock after acquiring an additional 7,000 shares during the period. Cumberland Partners Ltd’s holdings in Live Nation Entertainment were worth $1,638,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of LYV. Creative Financial Designs Inc. ADV lifted its holdings in shares of Live Nation Entertainment by 148.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 335 shares of the company’s stock worth $31,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Live Nation Entertainment during the third quarter worth about $33,000. Cary Street Partners Investment Advisory LLC lifted its holdings 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 during the period. Tobam acquired a new stake in shares of Live Nation Entertainment during the fourth quarter worth about $59,000. Finally, Headlands Technologies LLC acquired a new stake 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.

Live Nation Entertainment Price Performance

Shares of LYV stock traded up $1.63 during trading hours on Tuesday, hitting $90.08. 2,133,468 shares of the company’s stock were exchanged, compared to its average volume of 2,295,083. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 9.30. The firm has a market cap of $20.79 billion, a P/E ratio of 67.73 and a beta of 1.30. The firm has a 50 day moving average of $99.04 and a two-hundred day moving average of $91.54. Live Nation Entertainment, Inc. has a fifty-two week low of $64.96 and a fifty-two week high of $107.24.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly 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 firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Sell-side analysts forecast that Live Nation Entertainment, Inc. will post 1.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYV. Oppenheimer boosted their price target on Live Nation Entertainment from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Rosenblatt Securities decreased their price target on Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a report on Thursday, April 11th. TD Cowen reissued a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. JPMorgan Chase & Co. boosted their price target on Live Nation Entertainment from $124.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Morgan Stanley boosted their price target on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $116.30.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 1,001 shares of the company’s stock in a transaction 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 in the company, valued at approximately $5,967,087. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.85% of the stock is owned by company insiders.

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.