DigitalBridge Group Inc. Sells 6,152 Shares of Live Nation Entertainment, Inc. (NYSE:LYV)

DigitalBridge Group Inc. lessened its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 245,418 shares of the company's stock after selling 6,152 shares during the period. Live Nation Entertainment comprises 2.3% of DigitalBridge Group Inc.'s portfolio, making the stock its 13th largest holding. DigitalBridge Group Inc. owned about 0.11% of Live Nation Entertainment worth $31,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LYV. Duquesne Family Office LLC bought a new stake in Live Nation Entertainment in the 4th quarter worth approximately $10,313,000. Corton Capital Inc. bought a new stake in shares of Live Nation Entertainment in the fourth quarter worth $407,000. Cetera Investment Advisers increased its position in Live Nation Entertainment by 14.8% during the fourth quarter. Cetera Investment Advisers now owns 8,790 shares of the company's stock valued at $1,138,000 after acquiring an additional 1,132 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Live Nation Entertainment by 229.1% in the fourth quarter. Captrust Financial Advisors now owns 31,742 shares of the company's stock valued at $4,111,000 after acquiring an additional 22,096 shares during the period. Finally, Caxton Associates LP purchased a new position in Live Nation Entertainment in the fourth quarter worth about $1,663,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Insiders Place Their Bets

In related news, EVP Michael Rowles sold 63,136 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $155.40, for a total transaction of $9,811,334.40. Following the completion of the sale, the executive vice president now owns 195,346 shares of the company's stock, valued at $30,356,768.40. This represents a 24.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brian Capo sold 5,066 shares of Live Nation Entertainment stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $123.24, for a total transaction of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at $1,300,058.76. This represents a 32.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,702 shares of company stock worth $10,497,143 over the last 90 days. Company insiders own 2.72% of the company's stock.

Live Nation Entertainment Stock Performance

LYV stock opened at $134.28 on Wednesday. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75. The business has a 50-day moving average price of $128.16 and a 200 day moving average price of $132.65. The company has a market capitalization of $31.43 billion, a P/E ratio of 49.37, a PEG ratio of 1.81 and a beta of 1.47. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The business had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company's revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and issued a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Roth Mkm reduced their price target on Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Morgan Stanley lifted their price objective on Live Nation Entertainment from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Macquarie raised their target price on shares of Live Nation Entertainment from $146.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Live Nation Entertainment presently has an average rating of "Moderate Buy" and a consensus target price of $159.13.

Live Nation Entertainment Profile

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.

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