ABN Amro Investment Solutions Has $1.23 Million Stock Holdings in Live Nation Entertainment, Inc. $LYV

Key Points

• ABN Amro Investment Solutions increased its Live Nation Entertainment stake by 355.6% in the fourth quarter, ending with 8,639 shares valued at about $1.23 million.
• Wall Street sentiment remains broadly positive: 20 analysts rate LYV a Buy, 3 rate it Hold, and the consensus target price is $187.75.
• Live Nation reported Q1 revenue of $3.79 billion, beating estimates, but earnings per share came in well below expectations at -$1.85; meanwhile, insiders sold shares totaling $26.1 million over the past 90 days.

ABN Amro Investment Solutions raised its stake in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 355.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,639 shares of the company's stock after acquiring an additional 6,743 shares during the period. ABN Amro Investment Solutions' holdings in Live Nation Entertainment were worth $1,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ameriflex Group Inc. raised its holdings in shares of Live Nation Entertainment by 102.4% during the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock worth $27,000 after buying an additional 84 shares in the last quarter. Nvest Wealth Strategies Inc. acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth $26,000. Elyxium Wealth LLC acquired a new position in shares of Live Nation Entertainment during the 4th quarter worth $30,000. Root Financial Partners LLC bought a new stake in Live Nation Entertainment during the 3rd quarter worth $37,000. Finally, KERR FINANCIAL PLANNING Corp bought a new stake in Live Nation Entertainment during the 3rd quarter worth $41,000. 74.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LYV shares. Guggenheim boosted their price objective on Live Nation Entertainment from $192.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Sanford C. Bernstein boosted their price objective on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, February 20th. JPMorgan Chase & Co. boosted their price objective on Live Nation Entertainment from $178.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Bank of America boosted their price objective on Live Nation Entertainment from $170.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Twenty equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has a consensus rating of "Moderate Buy" and an average target price of $187.75.

Insider Buying and Selling

In related news, 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 transaction of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares in the company, valued at approximately $7,966,736.10. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Hopmans sold 93,078 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $166.07, for a total transaction of $15,457,463.46. Following the transaction, the executive vice president owned 188,751 shares of the company's stock, valued at approximately $31,345,878.57. This represents a 33.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 157,798 shares of company stock valued at $26,088,615 over the last ninety days. Insiders own 2.89% of the company's stock.

Live Nation Entertainment Trading Down 0.1%

Shares of NYSE LYV opened at $165.74 on Friday. Live Nation Entertainment, Inc. has a 1-year low of $125.34 and a 1-year high of $175.25. The company has a market cap of $39.04 billion, a PE ratio of -93.64 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 13.93. The company has a 50-day moving average of $158.63 and a two-hundred day moving average of $149.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($1.50). Live Nation Entertainment had a return on equity of 45.92% and a net margin of 0.15%.The company had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the firm posted ($0.32) earnings per share. The company's revenue was up 12.1% on a year-over-year basis. As a group, equities analysts expect that Live Nation Entertainment, Inc. will post 1.13 earnings per share for the current fiscal 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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