Pittenger & Anderson Inc. Sells 1,311 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Pittenger & Anderson Inc. reduced its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,434 shares of the company’s stock after selling 1,311 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Live Nation Entertainment were worth $3,770,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Live Nation Entertainment by 119.5% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 371 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Live Nation Entertainment in the 3rd quarter worth $41,000. Cromwell Holdings LLC raised its holdings in Live Nation Entertainment by 25.7% in the 3rd quarter. Cromwell Holdings LLC now owns 431 shares of the company’s stock worth $47,000 after purchasing an additional 88 shares during the period. UMB Bank n.a. lifted its position in Live Nation Entertainment by 67.4% during the second quarter. UMB Bank n.a. now owns 437 shares of the company’s stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Live Nation Entertainment during the second quarter valued at about $42,000. Institutional investors own 74.52% of the company’s stock.

Insider Transactions at Live Nation Entertainment

In related news, CFO Joe Berchtold sold 29,310 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $2,857,725.00. Following the completion of the transaction, the chief financial officer now owns 566,722 shares of the company’s stock, valued at approximately $55,255,395. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Rapino sold 98,849 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $97.50, for a total value of $9,637,777.50. Following the sale, the chief executive officer now owns 3,702,115 shares of the company’s stock, valued at approximately $360,956,212.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joe Berchtold sold 29,310 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $97.50, for a total transaction of $2,857,725.00. Following the completion of the sale, the chief financial officer now owns 566,722 shares of the company’s stock, valued at $55,255,395. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 177,000 shares of company stock worth $17,238,181 in the last three months. Insiders own 2.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on LYV shares. Oppenheimer lifted their price objective on Live Nation Entertainment from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Bank of America began coverage on shares of Live Nation Entertainment in a research report on Wednesday, September 4th. They issued a “buy” rating and a $125.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Live Nation Entertainment from $121.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on shares of Live Nation Entertainment from $118.00 to $137.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $123.00 price target on shares of Live Nation Entertainment in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

Live Nation Entertainment Price Performance

NYSE:LYV opened at $117.21 on Tuesday. Live Nation Entertainment, Inc. has a 12 month low of $81.38 and a 12 month high of $119.47. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 9.22. The business’s 50-day moving average is $107.03 and its 200 day moving average is $98.30. The company has a market capitalization of $27.00 billion, a P/E ratio of 110.58, a P/E/G ratio of 2.81 and a beta of 1.33.

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.