Natixis Advisors LLC lifted its position in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 43.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,819 shares of the company’s stock after purchasing an additional 38,627 shares during the quarter. Natixis Advisors LLC’s holdings in Live Nation Entertainment were worth $18,072,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in LYV. Vanguard Group Inc. grew its position in Live Nation Entertainment by 1.8% in the third quarter. Vanguard Group Inc. now owns 20,679,128 shares of the company’s stock worth $3,378,970,000 after acquiring an additional 372,715 shares in the last quarter. Principal Financial Group Inc. grew its position in Live Nation Entertainment by 10.3% in the fourth quarter. Principal Financial Group Inc. now owns 10,727,681 shares of the company’s stock worth $1,528,700,000 after acquiring an additional 1,001,905 shares in the last quarter. Capital World Investors grew its position in Live Nation Entertainment by 4.8% in the third quarter. Capital World Investors now owns 5,145,834 shares of the company’s stock worth $840,829,000 after acquiring an additional 237,342 shares in the last quarter. Geode Capital Management LLC grew its position in Live Nation Entertainment by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 4,301,900 shares of the company’s stock worth $610,707,000 after acquiring an additional 20,165 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Live Nation Entertainment by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,195,473 shares of the company’s stock worth $455,355,000 after acquiring an additional 123,800 shares in the last quarter. 74.52% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the company. Susquehanna lifted their price target on Live Nation Entertainment from $180.00 to $181.00 in a research report on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Live Nation Entertainment in a research report on Thursday, February 19th. Evercore reiterated an “outperform” rating and issued a $198.00 price target on shares of Live Nation Entertainment in a research report on Friday, February 20th. Weiss Ratings upgraded Live Nation Entertainment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 9th. Finally, TD Cowen restated a “buy” rating on shares of Live Nation Entertainment in a research report on Monday, February 23rd. Twenty investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $187.75.
Insider Activity at Live Nation Entertainment
In related news, EVP John Hopmans sold 93,078 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $166.07, for a total value of $15,457,463.46. Following the completion of the sale, the executive vice president owned 188,751 shares in the company, valued at approximately $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey T. Hinson sold 944 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the sale, the director owned 48,030 shares of the company’s stock, valued at $7,966,736.10. The trade was a 1.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 157,798 shares of company stock worth $26,088,615. Company insiders own 2.89% of the company’s stock.
Live Nation Entertainment Stock Down 0.5%
Shares of NYSE:LYV opened at $160.13 on Friday. Live Nation Entertainment, Inc. has a 1 year low of $125.34 and a 1 year high of $175.25. The business has a 50 day simple moving average of $160.87 and a two-hundred day simple moving average of $151.46. The firm has a market capitalization of $37.72 billion, a PE ratio of -90.47 and a beta of 1.12. The company has a debt-to-equity ratio of 13.93, a current ratio of 0.88 and a quick ratio of 0.88.
Live Nation Entertainment (NYSE:LYV – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.50). The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Live Nation Entertainment had a net margin of 0.15% and a return on equity of 45.92%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.32) EPS. On average, equities analysts predict that Live Nation Entertainment, Inc. will post 1.13 EPS for the current year.
Live Nation Entertainment Company Profile
Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.
The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.
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