Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Live Nation Entertainment, Inc. (NYSE:LYV – Free Report) by 68.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,242 shares of the company’s stock after buying an additional 72,998 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of Live Nation Entertainment worth $25,542,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LYV. Leonteq Securities AG purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $25,000. Nvest Wealth Strategies Inc. purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $26,000. Ameriflex Group Inc. boosted its holdings in Live Nation Entertainment by 102.4% in the third quarter. Ameriflex Group Inc. now owns 166 shares of the company’s stock valued at $27,000 after purchasing an additional 84 shares during the last quarter. Elyxium Wealth LLC purchased a new position in Live Nation Entertainment in the fourth quarter valued at about $30,000. Finally, Blue Trust Inc. boosted its holdings in Live Nation Entertainment by 62.6% in the fourth quarter. Blue Trust Inc. now owns 278 shares of the company’s stock valued at $40,000 after purchasing an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.
Live Nation Entertainment Trading Up 1.7%
NYSE:LYV opened at $175.51 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 13.93. The business’s 50 day moving average is $162.96 and its two-hundred day moving average is $153.24. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $176.00. The company has a market cap of $41.34 billion, a PE ratio of -99.16 and a beta of 1.12.
Analyst Ratings Changes
A number of brokerages recently commented on LYV. Deutsche Bank Aktiengesellschaft increased their price target on Live Nation Entertainment from $180.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Rothschild & Co Redburn increased their price target on Live Nation Entertainment from $193.00 to $195.00 in a report on Wednesday, May 6th. The Goldman Sachs Group increased their target price on Live Nation Entertainment from $190.00 to $192.00 in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Live Nation Entertainment in a report on Monday, March 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $190.00 target price on shares of Live Nation Entertainment in a report on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $188.50.
Get Our Latest Analysis on Live Nation Entertainment
Insider Buying and Selling
In other news, EVP Michael Rowles sold 63,776 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $164.24, for a total transaction of $10,474,570.24. Following the sale, the executive vice president directly owned 204,716 shares in the company, valued at approximately $33,622,555.84. This represents a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Hopmans sold 93,078 shares of the 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 sale, the executive vice president owned 188,751 shares in the company, valued at $31,345,878.57. The trade was a 33.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.89% of the stock is currently owned by corporate insiders.
Live Nation Entertainment 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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