Corebridge Financial Inc. Sells 2,049 Shares of Live Nation Entertainment, Inc. $LYV

Key Points

• Corebridge Financial Inc. reduced its stake in Live Nation Entertainment by 4.3% during the first quarter, selling 2,049 shares and holding 46,112 shares valued at approximately $6.02 million.
• Institutional investors own 74.52% of Live Nation Entertainment's stock, with several firms, including Measured Risk Portfolios and GW&K Investment Management, recently increasing their positions.
• Analysts have a favorable outlook on Live Nation Entertainment, with a consensus average rating of "Buy" and price targets ranging from $170.00 to $195.00 per share.

Corebridge Financial Inc. decreased its stake in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,112 shares of the company's stock after selling 2,049 shares during the period. Corebridge Financial Inc.'s holdings in Live Nation Entertainment were worth $6,021,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Comerica Bank increased its stake in Live Nation Entertainment by 16.2% during the 1st quarter. Comerica Bank now owns 53,217 shares of the company's stock valued at $6,949,000 after buying an additional 7,431 shares during the period. Independent Franchise Partners LLP boosted its holdings in shares of Live Nation Entertainment by 21.4% in the first quarter. Independent Franchise Partners LLP now owns 5,698,560 shares of the company's stock worth $744,118,000 after buying an additional 1,004,574 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Live Nation Entertainment by 24.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,515 shares of the company's stock worth $459,000 after buying an additional 690 shares during the period. AlphaQuest LLC acquired a new position in shares of Live Nation Entertainment in the first quarter worth about $147,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Live Nation Entertainment by 317.9% in the first quarter. Ameriprise Financial Inc. now owns 350,294 shares of the company's stock worth $45,728,000 after buying an additional 266,462 shares during the period. Institutional investors and hedge funds own 74.52% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LYV. Morgan Stanley set a $180.00 target price on shares of Live Nation Entertainment in a report on Thursday, July 24th. Wolfe Research raised their price target on shares of Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Sanford C. Bernstein assumed coverage on shares of Live Nation Entertainment in a report on Wednesday, June 4th. They set an "outperform" rating and a $185.00 price target for the company. Oppenheimer raised their price target on shares of Live Nation Entertainment from $165.00 to $180.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, Susquehanna set a $165.00 price objective on shares of Live Nation Entertainment and gave the company a "positive" rating in a research report on Tuesday, June 10th. Eighteen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Live Nation Entertainment has a consensus rating of "Buy" and an average price target of $168.94.

Live Nation Entertainment Stock Up 0.5%

NYSE LYV traded up $0.74 during trading on Thursday, reaching $162.71. The company's stock had a trading volume of 2,449,212 shares, compared to its average volume of 2,001,303. Live Nation Entertainment, Inc. has a 1-year low of $92.57 and a 1-year high of $167.94. The stock has a market capitalization of $38.15 billion, a PE ratio of 70.44, a PEG ratio of 10.93 and a beta of 1.42. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 5.38. The business has a 50-day moving average price of $154.57 and a 200-day moving average price of $142.22.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.41 EPS for the quarter, missing analysts' consensus estimates of $1.08 by ($0.67). Live Nation Entertainment had a net margin of 3.88% and a return on equity of 105.85%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business earned $1.03 EPS. The company's revenue for the quarter was up 16.3% compared to the same quarter last year. On average, research analysts forecast that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

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.