Keystone Investors PTE Ltd. lessened its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 92.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,101 shares of the company's stock after selling 26,975 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in Live Nation Entertainment were worth $274,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Live Nation Entertainment by 17.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 309,783 shares of the company's stock worth $40,117,000 after purchasing an additional 46,425 shares in the last quarter. Phoenix Financial Ltd. raised its position in shares of Live Nation Entertainment by 18.9% during the 4th quarter. Phoenix Financial Ltd. now owns 35,929 shares of the company's stock valued at $4,653,000 after purchasing an additional 5,704 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Live Nation Entertainment by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 69,443 shares of the company's stock valued at $8,993,000 after purchasing an additional 440 shares during the period. Sterling Capital Management LLC raised its position in shares of Live Nation Entertainment by 779.9% during the 4th quarter. Sterling Capital Management LLC now owns 25,289 shares of the company's stock valued at $3,275,000 after purchasing an additional 22,415 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Live Nation Entertainment during the 4th quarter valued at $1,405,000. 74.52% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP John Hopmans sold 34,808 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $147.38, for a total transaction of $5,130,003.04. Following the completion of the sale, the executive vice president directly owned 189,456 shares of the company's stock, valued at approximately $27,922,025.28. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.01% of the company's stock.
Live Nation Entertainment Trading Up 3.4%
Shares of LYV traded up $4.97 during midday trading on Friday, hitting $153.24. The stock had a trading volume of 3,917,188 shares, compared to its average volume of 1,975,276. The stock's 50 day moving average is $147.40 and its 200 day moving average is $140.02. The firm has a market cap of $35.52 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 5.06 and a beta of 1.46. The company has a debt-to-equity ratio of 7.43, a current ratio of 0.96 and a quick ratio of 0.96. Live Nation Entertainment, Inc. has a 1 year low of $90.69 and a 1 year high of $157.75.
Live Nation Entertainment (NYSE:LYV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.67). The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.93 billion. Live Nation Entertainment had a return on equity of 108.31% and a net margin of 3.88%. Live Nation Entertainment's revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS. As a group, analysts forecast that Live Nation Entertainment, Inc. will post 2.38 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently issued reports on LYV shares. Morgan Stanley set a $180.00 target price on Live Nation Entertainment in a research report on Thursday, July 24th. Wolfe Research increased their target price on Live Nation Entertainment from $160.00 to $168.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Rosenblatt Securities cut their target price on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Benchmark increased their target price on Live Nation Entertainment from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Roth Mkm cut their target price 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 analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Live Nation Entertainment has a consensus rating of "Moderate Buy" and a consensus target price of $165.94.
View Our Latest Research Report on LYV
Live Nation Entertainment Profile
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Free Report)
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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