Allspring Global Investments Holdings LLC Has $62.66 Million Holdings in Live Nation Entertainment, Inc. (NYSE:LYV)

Allspring Global Investments Holdings LLC cut its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 474,624 shares of the company's stock after selling 25,561 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.20% of Live Nation Entertainment worth $62,655,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LYV. Atria Wealth Solutions Inc. acquired a new stake in shares of Live Nation Entertainment in the fourth quarter valued at about $226,000. Handelsbanken Fonder AB boosted its holdings in shares of Live Nation Entertainment by 24.7% in the 4th quarter. Handelsbanken Fonder AB now owns 3,807 shares of the company's stock valued at $493,000 after buying an additional 755 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Live Nation Entertainment by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 21,172 shares of the company's stock worth $2,742,000 after purchasing an additional 188 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Live Nation Entertainment in the 4th quarter valued at about $8,737,000. Finally, QRG Capital Management Inc. grew its stake in shares of Live Nation Entertainment by 4.7% in the fourth quarter. QRG Capital Management Inc. now owns 16,243 shares of the company's stock worth $2,103,000 after purchasing an additional 726 shares in the last quarter. 74.52% of the stock is currently owned by institutional investors and hedge funds.

Live Nation Entertainment Price Performance

Shares of NYSE:LYV traded up $0.16 during trading on Thursday, reaching $149.27. The stock had a trading volume of 925,403 shares, compared to its average volume of 2,332,447. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $34.60 billion, a PE ratio of 50.95, a P/E/G ratio of 5.81 and a beta of 1.45. The business's 50-day moving average price is $141.88 and its 200 day moving average price is $136.86. Live Nation Entertainment, Inc. has a 52 week low of $87.33 and a 52 week high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The firm had revenue of $3.38 billion during the quarter, compared to the consensus estimate of $3.63 billion. Live Nation Entertainment had a net margin of 4.28% and a return on equity of 125.77%. Live Nation Entertainment's revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. As a group, equities analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Activity

In other Live Nation Entertainment news, EVP John Hopmans sold 34,808 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $147.38, for a total value of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares in the company, valued at $27,922,025.28. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.01% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on LYV. Sanford C. Bernstein started coverage on shares of Live Nation Entertainment in a research note on Wednesday, June 4th. They set an "outperform" rating and a $185.00 target price for the company. Rosenblatt Securities lowered their price objective on shares of Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Guggenheim reiterated a "buy" rating and set a $170.00 price target on shares of Live Nation Entertainment in a report on Wednesday, June 18th. Benchmark reiterated a "buy" rating and issued a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Finally, 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. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Live Nation Entertainment currently has an average rating of "Moderate Buy" and a consensus price target of $165.24.

About Live Nation Entertainment

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.