Assetmark Inc. Acquires 63,141 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

Assetmark Inc. grew its holdings in Live Nation Entertainment, Inc. (NYSE:LYV) by 50.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,975 shares of the company’s stock after acquiring an additional 63,141 shares during the period. Assetmark Inc. owned 0.08% of Live Nation Entertainment worth $24,472,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Live Nation Entertainment in the third quarter worth approximately $31,000. Golden State Wealth Management LLC bought a new position in Live Nation Entertainment in the fourth quarter worth approximately $42,000. Retirement Wealth Solutions LLC bought a new position in Live Nation Entertainment in the fourth quarter worth approximately $44,000. Independence Bank of Kentucky purchased a new stake in shares of Live Nation Entertainment in the fourth quarter worth $45,000. Finally, Morse Asset Management Inc purchased a new stake in shares of Live Nation Entertainment in the third quarter worth $42,000. 74.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LYV. The Goldman Sachs Group increased their price objective on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Bank of America increased their price objective on shares of Live Nation Entertainment from $149.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Citigroup increased their price objective on shares of Live Nation Entertainment from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of Live Nation Entertainment in a research note on Thursday, February 20th. Finally, StockNews.com raised shares of Live Nation Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Live Nation Entertainment Stock Performance

Shares of NYSE:LYV opened at $136.73 on Thursday. Live Nation Entertainment, Inc. has a 52 week low of $86.81 and a 52 week high of $157.75. The stock has a market capitalization of $31.91 billion, a P/E ratio of 50.27, a PEG ratio of 1.81 and a beta of 1.38. The firm has a fifty day simple moving average of $140.60 and a two-hundred day simple moving average of $125.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10.

Live Nation Entertainment (NYSE:LYV) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $1.49. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $5.68 billion during the quarter, compared to analysts’ expectations of $5.67 billion. On average, analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Live Nation Entertainment news, EVP Michael Rowles sold 63,136 shares of Live Nation Entertainment stock in a transaction on Monday, February 24th. The shares were sold at an average price of $155.40, for a total value of $9,811,334.40. Following the completion of the transaction, the executive vice president now directly owns 195,346 shares of the company’s stock, valued at $30,356,768.40. This trade represents a 24.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.72% of the company’s stock.

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.