Mizuho Securities USA LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,900 shares of the company’s stock, valued at approximately $685,000.
A number of other hedge funds have also recently bought and sold shares of the stock. Hanseatic Management Services Inc. boosted its holdings in Live Nation Entertainment by 52.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,201 shares of the company’s stock worth $59,000 after buying an additional 411 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Live Nation Entertainment by 5.8% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 8,815 shares of the company’s stock worth $434,000 after buying an additional 484 shares during the last quarter. Advisor Partners LLC boosted its holdings in Live Nation Entertainment by 13.5% in the 4th quarter. Advisor Partners LLC now owns 4,472 shares of the company’s stock worth $220,000 after buying an additional 531 shares during the last quarter. Exane Derivatives acquired a new stake in Live Nation Entertainment in the 4th quarter worth about $32,000. Finally, Creative Planning boosted its holdings in Live Nation Entertainment by 6.4% in the 4th quarter. Creative Planning now owns 11,535 shares of the company’s stock worth $568,000 after buying an additional 692 shares during the last quarter. Institutional investors own 68.68% of the company’s stock.
Several equities research analysts recently issued reports on LYV shares. JPMorgan Chase & Co. lifted their price objective on Live Nation Entertainment from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Macquarie reiterated a “buy” rating and issued a $60.00 price objective on shares of Live Nation Entertainment in a report on Thursday, November 22nd. Finally, Zacks Investment Research upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, January 15th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Live Nation Entertainment currently has a consensus rating of “Buy” and an average price target of $57.61.
In other news, CEO Michael Rapino sold 85,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $47.93, for a total transaction of $4,074,050.00. Following the transaction, the chief executive officer now directly owns 797,030 shares in the company, valued at approximately $38,201,647.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 255,000 shares of company stock worth $12,736,400. Insiders own 5.19% of the company’s stock.
Shares of Live Nation Entertainment stock opened at $54.20 on Friday. The company has a market cap of $11.36 billion, a PE ratio of -112.92 and a beta of 1.14. Live Nation Entertainment, Inc. has a 1-year low of $35.94 and a 1-year high of $58.26. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.08 and a current ratio of 1.08.
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About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned and/or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content.
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