M&T Bank Corp Grows Position in Live Nation Entertainment, Inc. $LYV

Key Points

• M&T Bank Corp boosted its stake in Live Nation by 416.3% in Q4, adding 15,704 shares to hold 19,476 shares worth about $2.78 million.
• Wall Street sentiment is broadly positive with a consensus rating of "Moderate Buy" and a target price of $186.29, driven by multiple price-target increases from firms including Guggenheim and Sanford C. Bernstein.
• Live Nation's latest quarter showed a revenue beat of $6.31 billion versus $6.12 billion expected but an EPS miss of ($1.06) versus ($1.00), while the stock trades around $156.74 with a $36.8 billion market cap.

M&T Bank Corp raised its holdings in Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 416.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,476 shares of the company's stock after purchasing an additional 15,704 shares during the quarter. M&T Bank Corp's holdings in Live Nation Entertainment were worth $2,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Ameriflex Group Inc. grew its stake in Live Nation Entertainment by 102.4% in the 3rd quarter. Ameriflex Group Inc. now owns 166 shares of the company's stock valued at $27,000 after purchasing an additional 84 shares during the period. Measured Risk Portfolios Inc. bought a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. Root Financial Partners LLC bought a new position in Live Nation Entertainment in the 3rd quarter valued at $37,000. Blue Trust Inc. grew its stake in Live Nation Entertainment by 62.6% in the 4th quarter. Blue Trust Inc. now owns 278 shares of the company's stock valued at $40,000 after purchasing an additional 107 shares during the period. Finally, KERR FINANCIAL PLANNING Corp bought a new position in Live Nation Entertainment in the 3rd quarter valued at $41,000. Institutional investors own 74.52% of the company's stock.

Insider Buying and Selling

In other Live Nation Entertainment news, Director Jeffrey T. Hinson sold 944 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $165.87, for a total value of $156,581.28. Following the completion of the transaction, the director owned 48,030 shares in the company, valued at $7,966,736.10. This trade represents a 1.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYV has been the subject of a number of recent analyst reports. Roth Mkm restated a "buy" rating and issued a $190.00 price objective on shares of Live Nation Entertainment in a research note on Friday, February 20th. Guggenheim upped their price objective on Live Nation Entertainment from $180.00 to $192.00 and gave the company a "buy" rating in a research note on Monday, April 6th. Wall Street Zen upgraded Live Nation Entertainment from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Weiss Ratings upgraded Live Nation Entertainment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 9th. Finally, Sanford C. Bernstein increased their price target on Live Nation Entertainment from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, February 20th. Twenty-one equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $186.29.

Live Nation Entertainment Stock Up 0.1%

Shares of NYSE LYV opened at $156.74 on Tuesday. Live Nation Entertainment, Inc. has a 52 week low of $125.34 and a 52 week high of $175.25. The business has a 50-day simple moving average of $157.43 and a two-hundred day simple moving average of $148.46. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 8.51. The company has a market cap of $36.80 billion, a P/E ratio of -653.08 and a beta of 1.15.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.06). Live Nation Entertainment had a return on equity of 48.11% and a net margin of 1.79%.The company had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.12 billion. During the same quarter in the prior year, the business earned $0.58 EPS. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts anticipate that Live Nation Entertainment, Inc. will post 1.45 earnings per share for the current fiscal year.

About Live Nation Entertainment

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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