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

DigitalBridge Group Inc. lowered its position in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 245,418 shares of the company's stock after selling 6,152 shares during the period. Live Nation Entertainment comprises approximately 2.3% of DigitalBridge Group Inc.'s holdings, making the stock its 14th largest position. DigitalBridge Group Inc. owned 0.11% of Live Nation Entertainment worth $31,782,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Park Avenue Securities LLC grew its holdings in Live Nation Entertainment by 44.5% during the 4th quarter. Park Avenue Securities LLC now owns 2,998 shares of the company's stock valued at $388,000 after buying an additional 923 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Live Nation Entertainment during the fourth quarter worth $230,000. UMB Bank n.a. grew its stake in Live Nation Entertainment by 21.2% during the fourth quarter. UMB Bank n.a. now owns 532 shares of the company's stock valued at $69,000 after acquiring an additional 93 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Live Nation Entertainment by 90.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,456 shares of the company's stock valued at $3,556,000 after acquiring an additional 13,015 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in Live Nation Entertainment in the 4th quarter worth $210,000. Hedge funds and other institutional investors own 74.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Live Nation Entertainment from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Benchmark reaffirmed a "buy" rating and set a $178.00 price objective on shares of Live Nation Entertainment in a report on Tuesday, April 1st. Susquehanna assumed coverage on Live Nation Entertainment in a research report on Monday, April 28th. They set a "positive" rating and a $155.00 target price for the company. The Goldman Sachs Group boosted their price target on shares of Live Nation Entertainment from $148.00 to $166.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Roth Mkm decreased their price target on shares of Live Nation Entertainment from $174.00 to $164.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.07.

Live Nation Entertainment Trading Down 2.8%

Shares of NYSE:LYV traded down $3.97 during trading hours on Thursday, hitting $136.25. 4,190,329 shares of the company's stock traded hands, compared to its average volume of 2,225,028. The firm has a market capitalization of $31.58 billion, a P/E ratio of 50.05, a price-to-earnings-growth ratio of 1.81 and a beta of 1.47. The business has a fifty day moving average price of $133.22 and a 200-day moving average price of $135.23. Live Nation Entertainment, Inc. has a 1 year low of $86.81 and a 1 year high of $157.75. 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 data on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.63 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Live Nation Entertainment's revenue was down 11.0% compared to the same quarter last year. Equities analysts expect that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Hopmans sold 34,808 shares of Live Nation Entertainment stock in a transaction on Friday, May 16th. The shares were sold at an average price of $147.38, for a total value of $5,130,003.04. Following the sale, the executive vice president now directly owns 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,374 shares of company stock valued at $5,815,812 in the last 90 days. Company insiders own 3.01% of the company's stock.

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.