Andina Capital Management LLC Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Andina Capital Management LLC acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,070 shares of the company’s stock, valued at approximately $287,000.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in shares of Live Nation Entertainment in the third quarter valued at about $236,000. Commonwealth Equity Services LLC lifted its stake in Live Nation Entertainment by 6.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 10,855 shares of the company’s stock valued at $901,000 after buying an additional 647 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Live Nation Entertainment by 7.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 37,935 shares of the company’s stock valued at $3,150,000 after buying an additional 2,500 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Live Nation Entertainment by 2.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 19,230 shares of the company’s stock valued at $1,597,000 after buying an additional 476 shares during the last quarter. Finally, Xponance Inc. increased its position in Live Nation Entertainment by 5.0% during the third quarter. Xponance Inc. now owns 24,814 shares of the company’s stock worth $2,061,000 after buying an additional 1,181 shares in the last quarter. 74.52% of the stock is currently owned by hedge funds and other institutional investors.

Live Nation Entertainment Trading Down 0.2 %

Shares of LYV stock traded down $0.20 on Wednesday, reaching $88.71. 754,614 shares of the stock were exchanged, compared to its average volume of 2,247,135. 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 stock has a market cap of $20.47 billion, a P/E ratio of 66.85 and a beta of 1.30. The firm has a 50 day moving average of $98.82 and a two-hundred day moving average of $91.62. Live Nation Entertainment, Inc. has a 1-year low of $66.38 and a 1-year high of $107.24.

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 the consensus estimate of ($1.13) by ($0.09). The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $4.72 billion. Live Nation Entertainment had a return on equity of 118.42% and a net margin of 2.48%. On average, research analysts anticipate that Live Nation Entertainment, Inc. will post 1.62 EPS for the current year.

Insider Activity at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 1,001 shares of the stock in a transaction 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 completion of the sale, the director now owns 59,374 shares of the company’s stock, valued at $5,967,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Live Nation Entertainment in a research note on Tuesday. They set a “buy” rating and a $120.00 price objective on the stock. Oppenheimer lifted their price target on shares of Live Nation Entertainment from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Rosenblatt Securities cut their price objective on shares of Live Nation Entertainment from $124.00 to $119.00 and set a “buy” rating for the company in a research report on Thursday, April 11th. JPMorgan Chase & Co. raised their target price on shares of Live Nation Entertainment from $124.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, TD Cowen reiterated a “buy” rating and issued a $108.00 price target on shares of Live Nation Entertainment in a report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $116.64.

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.