Murphy & Mullick Capital Management Corp Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Murphy & Mullick Capital Management Corp bought a new position in Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 310 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Live Nation Entertainment by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 7,302,199 shares of the company’s stock worth $945,635,000 after purchasing an additional 105,648 shares during the period. Geode Capital Management LLC lifted its stake in Live Nation Entertainment by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock valued at $410,664,000 after acquiring an additional 321,832 shares during the period. Cantillon Capital Management LLC boosted its holdings in shares of Live Nation Entertainment by 0.5% in the 4th quarter. Cantillon Capital Management LLC now owns 2,977,411 shares of the company’s stock valued at $385,575,000 after acquiring an additional 15,891 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Live Nation Entertainment by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 1,809,949 shares of the company’s stock worth $234,388,000 after purchasing an additional 284,623 shares during the last quarter. Finally, Amundi lifted its position in Live Nation Entertainment by 3.7% during the fourth quarter. Amundi now owns 1,089,290 shares of the company’s stock valued at $141,945,000 after purchasing an additional 39,302 shares during the period. Institutional investors and hedge funds own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In related news, CAO Brian Capo sold 5,066 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the sale, the chief accounting officer now owns 10,549 shares of the company’s stock, valued at approximately $1,300,058.76. This trade represents a 32.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Hinson sold 500 shares of Live Nation Entertainment stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now owns 52,624 shares in the company, valued at approximately $6,470,120.80. The trade was a 0.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,702 shares of company stock valued at $10,497,143. Corporate insiders own 2.72% of the company’s stock.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock opened at $128.31 on Friday. The stock has a market capitalization of $29.95 billion, a P/E ratio of 47.17, a PEG ratio of 1.81 and a beta of 1.38. The business has a 50 day simple moving average of $138.35 and a two-hundred day simple moving average of $128.18. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $157.75. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of ($0.93) by $1.49. Live Nation Entertainment had a return on equity of 139.09% and a net margin of 3.90%. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.67 billion. As a group, analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LYV. Morgan Stanley increased their price target on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Guggenheim raised their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 target price on shares of Live Nation Entertainment in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Live Nation Entertainment from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.27.

Live Nation Entertainment Company 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.